US President Joe Biden says he has reached an agreement with French President Emmanuel Macron on how to use profits from frozen Russian assets to help Ukraine.
Asked by a reporter on Sunday whether he discussed the issue with Macron and had come up with an agreement, Biden replied “Yes, and yes.”
But Biden, who was in France, did not reveal the details.
The Group of Seven nations are considering using profits generated by the Russian central bank’s frozen assets to support Ukraine. The assets were immobilized to sanction Russia for its invasion of Ukraine.
The United States estimates the frozen assets will turn profits of 3 to 5 billion dollars a year. The country wants to use the profits as collateral to provide Ukraine with up to 50 billion dollars in loans.
The leaders of the G7 countries are scheduled to discuss the issue at their summit set to open in Italy on Thursday.