G7 eyeing using frozen Russian assets as collateral for Ukraine loans, EU official says

WASHINGTON - Group of Seven members are discussing using nearly $300 billion in frozen Russian assets as collateral to provide loans to Ukraine, European Commission Executive Vice President Valdis Dombrovskis said on Thursday.Related stories

The statement did not include a specific plan for the assets, but said they would"continue working on all possible avenues by which immobilized Russian sovereign assets could be made use of to support Ukraine" with a view to presenting options to G7 leaders at a June summit in Italy. Deputy U.S. Treasury Secretary Wally Adeyemo on Wednesday said the G7 discussions on frozen Russian sovereign assets were a"work in progress."

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