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The West is tapping Russian money to arm Ukraine. Much more could follow

·1 min

Finance ministers from a group of advanced economies are discussing new ways to use frozen Russian assets to support Ukraine. The assets, totaling €260 billion ($282 billion), were frozen by Western countries after Russia’s invasion of Ukraine in February 2022. One proposal is to lend up to $50 billion to Ukraine, using future profits from Russian assets held in the European Union as collateral. The plan aims to provide significant resources to help Ukraine. It is hoped that a way forward can be agreed upon before a summit of world leaders next month.