G7 Nears Deal to Fund Ukraine Using Frozen Russian Assets

The U.S. and its Western allies are moving to use the investment returns from frozen Russian assets to fund Ukraine's war effort, potentially providing up to $50 billion in short- to medium-term funding. This plan, agreed upon by the Group of Seven nations, avoids confiscating the principal assets to prevent financial instability. Russia has condemned the move and threatened to retaliate by seizing U.S. and European assets in Russia, although many Western firms have already exited the country.