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julie kozak, director of communications at the international monetary fund, said that so far the g7 countries have not reached an agreement on the conditions and specific implementation details of providing ukraine with $50 billion from the proceeds of russia's frozen assets. kozak told reporters at a press conference: "on the issue of financial support, the g7 governments are actively discussing the conditions and specific implementation details of fulfilling their commitment to provide ukraine with $50 billion in financial support." in february 2022, after russia took special military action against ukraine, unfriendly countries imposed sanctions on russia, resulting in the freezing of russian sovereign assets and private investor funds. about 300 billion euros of russia's foreign exchange reserves have been frozen. about 200 billion euros of these are in the european union, most of which are in the accounts of euroclear, the world's largest clearing and settlement system, the belgian international securities depository.

source: financial ai telegraph