Finance leaders from the Group of Seven wealthy democracies on Wednesday will try to advance talks on harnessing the earnings from frozen Russian sovereign assets to back a $50 billion loan to Ukraine as the U.S. seeks more certainty, notably from the European Union, that the assets will be immobilized for the long term, APA reports citing Reuters.
The talks will take place on the sidelines of a G20 finance leaders' meeting in Brazil focused on broader economic, climate and development issues.
A senior U.S. Treasury official told reporters that the G7 gathering was not likely to produce an agreement or statement, but it was important for finance ministers to pore over the technical details of the loan plan for Ukraine. However, EU member states' ambassadors were at the same time discussing options for meeting the U.S. concerns.
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