Russia to fund the Ukrainian defense against Russian aggression

Meeting in northern Italy this week, the top financial officials of the Group of Seven nations agreed in a joint statement to tap the investment returns of “immobilized Russian sovereign assets” to support Ukraine. The Kremlin has been blocked from accessing hundreds of billions of dollars held in Western financial institutions after invading Ukraine in 2022, and European and U.S. officials have for months debated whether or how to unlock these funds to help fight off the invasion.