Submission Statement: The G7 has agreed to create a new $50 billion financing facility for Ukraine. However, Timothy Ash argues that this amount will not be enough to meet Ukraine’s annual funding needs during wartime, which are over $100 billion. This agreement follows European reluctance to utilize over $300 billion in confiscated Russian Central Bank assets. Ash maintains that eventually, the allocation of these assets to Ukraine will be necessary and justified to compel Russia to be accountable for its actions.
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Submission Statement: The G7 has agreed to create a new $50 billion financing facility for Ukraine. However, Timothy Ash argues that this amount will not be enough to meet Ukraine’s annual funding needs during wartime, which are over $100 billion. This agreement follows European reluctance to utilize over $300 billion in confiscated Russian Central Bank assets. Ash maintains that eventually, the allocation of these assets to Ukraine will be necessary and justified to compel Russia to be accountable for its actions.