President Joe Biden's key priority at the G7 summit in Italy this week is to solidify an agreement that could provide some $50 billion to Ukraine using profits from frozen Russian assets, according to a source familiar with the matter.
This plan to finance Ukraine would send a powerful message to Russia's Vladimir Putin that he will not outlast the U.S. and its allies' support for Ukraine, regardless of how elections in their countries unfold, according to the source.
But the G7 nations have to hammer out tricky details, including how disbursement would work and what the repayment assurances would be, the source said.
While there have been divisions among member countries over the war, the countries have now unified around President Biden's plan for a cease-fire. Earlier this month, G7 leaders released a joint statement formally endorsing Biden's plan and calling on Hamas to accept it.
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