Following the G7 countries' agreement to provide substantial support to Ukraine, Russia has responded with strong warnings.
According to estimates by the World Bank, Ukraine will require over $486 billion for reconstruction over the next decade, forming the basis for the G7's decision to offer financial assistance.
Several news agencies have reported that leaders from the world's seven wealthiest democracies, who recently met at the exclusive Borgo Egnazia resort in southern Italy, have committed to lending Ukraine up to $58.6 billion.
This loan will be funded through interest on frozen Russian assets in EU banks and seizures from oligarchs closely tied to Putin, which include assets like luxury yachts and real estate.
Despite these funds technically still belonging to Russia, the G7's primary objective is to quickly allocate them to Ukraine.
Speculation about this support has been ongoing, and a senior official from the Biden administration confirmed to Reuters that a political agreement has been reached.
In response, Russia has voiced strong objections.
Maria Zakharova, spokesperson for the Russian Ministry of Foreign Affairs, warned that using Russian assets will provoke a "very painful" retaliation against the EU.
