In a collective effort, G7 countries have frozen approximately $280 billion in Russian assets with a commitment to maintain this freeze until Russia compensates Ukraine for the damage inflicted during the war. This resolute stance is articulated in a joint statement by G7 finance ministers and central bank governors.
The statement highlights the work of G7's task force, focused on Russian elites, proxies, and oligarchs (REPO), which has identified around $280 billion in Russian assets—an initial step in this complex process. The officials from the Group of Seven emphasized their intent to explore all available ways to support Ukraine in accordance with their legal frameworks and international law.
Significantly, they affirmed that Russian assets will remain frozen until Russia compensates Ukraine for the damage inflicted.
