G7 finance ministers threaten Russia with full confiscation of assets
9 December 2025 07:39
The Group of Seven countries are ready to use the frozen Russian assets to help achieve a just and lasting peace in Ukraine and to support its economic reforms. This is stated in a joint statement by the G7 finance ministers, which was released on December 8, "Komersant Ukrainian" reports
The position was voiced during a meeting of G7 finance ministers, which was also attended by representatives of the International Monetary Fund, the World Bank, the Organization for Economic Cooperation and Development, and the Financial Stability Board.
“We will continue to work together to develop a broad range of ways to provide financial support to Ukraine – including the possible use of all Russian sovereign funds frozen in our jurisdictions until Russia pays reparations – to end the war and secure a just and lasting peace in Ukraine,” the document says.
In addition, the G7 pledged to support the Ukrainian authorities in implementing reforms, including fighting corruption and improving the management of state-owned enterprises. The finance ministers emphasized their readiness to increase pressure on Russia if peace talks fail. The meeting also discussed strengthening cooperation with international partners and enhancing collective economic and financial stability.
It is worth noting that a few hours before this statement was published, Politico, citing European diplomats, wrote that Japan, which is also a member of the G7, allegedly refused to use Russian assets in favor of Ukraine.
As you know, the European Commission wants the EU countries to agree on a mechanism for using up to two hundred and ten billion euros of frozen Russian funds before the December 18 summit of leaders. However, Belgium is blocking the agreement, fearing that it will have to compensate the full amount if Russia tries to legally recover the assets. One of Brussels’ demands is the participation of other non-EU Group of Seven countries, which could also provide Ukraine with a loan using frozen assets located on their territories.
Earlier, the UK said it was ready to transfer eight billion pounds of frozen Russian assets to support Ukraine. London wants to conclude an agreement with the EU and other countries where Russian money is kept.
