FM: G7's decision to use frozen assets' interest an important step forward
Minister of Foreign Affairs Margus Tsahkna (Eesti 200) praised the G7's decision to use interests earned from frozen Russian assets for the benefit of Ukraine, but said more needs to be done.
On Thursday, Canada, France, Germany, Italy, Japan, the United Kingdom and the U.S. agreed to grant a loan of nearly €50 billion to Ukraine by using profits earned from frozen Russian assets.
"The decision of the G7 means that Russia's assets remain frozen until Russia has compensated the damage caused to Ukraine and it is a painful message to Putin and anyone who has hoped for an imminent return to pre-war reality," the minister said in a statement.
However, Tsahkna said Russia's aggressor has caused damage to Ukraine amounting to more than €400 billion and work must continue to use the main part of the internationally frozen assets.
This way, nearly €300 billion could be used to assist Ukraine.
"We must send a clear message that aggression does not pay and those who cause war damage must compensate the destruction," he said.
Estonia has already agreed to use frozen assets of people and companies that contributed to Russia's aggression as advance payment to deal with the damage Russia has caused Ukraine.
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Editor: Lotta Raidna, Helen Wright
