The Group of Seven (G7) countries released a statement on February 24 in which they confirmed that they would keep Russian assets frozen in their jurisdictions until the end of Russia's full-scale war against Ukraine. As Ukrinform reports, the text of the corresponding G7 statement was posted on the website of the European Council.
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“We confirm that, according to our legal systems, Russian sovereign assets in our jurisdictions will remain immobilized until Russia pays the damage it caused to Ukraine,” the statement says.
The document called it incorrect that Russia decides whether and when it will compensate for the damage caused to Ukraine.
In addition, the signatories of the statement welcomed the EU’s decision to adopt a mechanism for storing excess profits from income from Russian assets and encourage “further steps to allow their use in accordance with existing treaty obligations and current legislation.”