G7 Postpones Discussing the Transfer of Russian Assets to Ukraine Until June

The question of transferring frozen Russian assets to Ukraine was postponed until the next 50th summit, which will be held from June 13 to 15, 2024 in Brindisi, Italy. The heads of foreign affairs of the G7 countries approved the declaration following the meeting in Capri, Italy, on April 19.

“We reaffirm our unwavering determination to support democratic Ukraine as it defends its freedom, sovereignty, independence, and territorial integrity, within its internationally recognized borders. We pay tribute to the bravery and resilience of the Ukrainian people, fighting for their freedom and democratic future,” according to the statement.

On April 18, the Head of the Office of the President of Ukraine Andriy Yermak had a conversation with the Director General of the Italian Security Intelligence Department, Italy’s G7/G20 Sherpa Elisabetta Belloni.

Yermak informed of the preparations for the inaugural Peace Summit, which is being organized jointly by Ukraine and Switzerland. The summit is based on the Ukrainian Peace Formula and will take place in Switzerland. Andriy Yermak and Elisabetta Belloni also discussed the mechanism of using frozen Russian assets for Ukraine’s recovery.

Previously, on April 16, the Parliamentary Assembly of the Council of Europe (PACE) adopted a resolution calling for the transfer of $300 billion in frozen Russian assets to Ukraine.