The G7 group of countries announced a plan to use frozen Russian assets to finance a $50bn loan for Ukraine amid Russia's war, risking Russian retaliation. Western countries froze Russian Central Bank assets, totaling $300bn, with $3bn yearly earnings. Suggestions to hand over frozen assets to Ukraine are controversial.
Using frozen Russian assets to finance a loan for Ukraine is a vital step, according to Ukrainian President Zelenskyy. However, Russian Foreign Ministry warns of 'extremely painful measures' in retaliation for the plan.
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