G7 leaders are racing to clinch a deal on using profits from frozen Russian sovereign assets to help Ukraine in a bid to shore up support for Kyiv while they grapple with a barrage of domestic political difficulties.
A potential agreement on a scheme for G7 members to lend as much as $50bn to Ukraine backed by the future proceeds from Russian assets is expected to be the centrepiece of the group’s annual summit which begins on Thursday in the southern Italian region of Puglia.
But negotiations over the shape of the deal have gone down to the wire, as G7 capitals haggle over its design — including who would bear the ultimate risk of the loan to Ukraine, and how the money would be distributed.
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