On May 22, 2025, the G7 countries, led by Canada, issued a joint statement confirming that Russian sovereign assets amounting to about $300 billion will remain frozen until the Russian Federation ceases its aggression against Ukraine and compensates for the damages caused. This decision underscores the G7's firm support for Ukraine in its defense and reconstruction. The statement is part of the G7 Extraordinary Revenue Acceleration (ERA) initiative, which includes a $50 billion loan for Ukraine, financed from the profits of frozen assets. Canada, the United Kingdom, and Japan have already allocated significant funds to support the Ukrainian army and reconstruction. Despite some differences, including the U.S. blocking certain G7 statements, the group remains united in its resolve to hold Russia accountable. This move sends a clear signal to Moscow: peace and compensation are non-negotiable conditions. Stay tuned for news on global financial strategies from #MiningUpdates .
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