The money will arrive in the coming months. The plan to finance the war in Ukraine from Russian assets is almost ready – Canada’s finance minister

This is reported by Politico.

“I am very sure that Ukraine will start receiving money in the coming months,” she said, adding that they are currently negotiating “technical points”.

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The publication writes that for Freeland, the struggle to direct Russian assets to finance Ukraine is a personal one, since her pedigree is connected with Ukraine, where she worked as a journalist during the collapse of the USSR. The minister set herself the goal of securing support for Ukraine in the international arena.

She also said that she was one of the few people in the G7 government who was not surprised that Kyiv did not “fall” in the first week of the war.

“In February 2022, when Russia launched a full-scale invasion, it was a universally accepted truth that Kyiv would not stand. Maybe a week, maybe two weeks – three from the outside… Really smart military, really smart analysts were absolutely sure that it would happen, but I wasn’t. I really believed that the Ukrainian people had the determination and social cohesion to resist and resist successfully,” said Freeland.

Profit from frozen Russian assets for Ukraine — what is known

For years, Western countries have been unable to agree on whether to freeze assets, fearing the unintended global consequences of such an unprecedented move.

After all, at the end of May, US Treasury Secretary Janet Yellen did not rule out that the G7 countries could provide Ukraine with a multi-billion dollar loan and use the interest received from $300 billion of frozen Russian state assets.

At the beginning of June 2024, Brent Neiman, the assistant head of the US Treasury Department for International Finance, said that Washington, together with its G7 partners, was making progress on the issue of providing assistance to Ukraine through profits from Russian assets.

On June 12, the Elysee Palace announced that the G7 leaders had reached an agreement on the transfer of $50 billion of frozen Russian assets to Ukraine. Later, the Minister of Economy and Finance of Italy, Giancarlo Giorgetti, stated that the countries of the European Union will provide up to 60% of the funds for a loan to Ukraine.

On August 24, Bloomberg, citing its own sources, wrote that Ukrainian officials are increasingly afraid of delays in completing the agreement, which will make it possible to receive support in the amount of 50 billion dollars at the expense of profits from the frozen assets of the Central Bank of the Russian Federation.

On September 17, Vice President of the European Commission Valdis Dombrovskis announced that the European Union allocated 1.4 billion euros of profits obtained from frozen Russian assets for the supply of weapons to Ukraine.