Photo : Collected
The G7 countries may lose $83 billion if they confiscate frozen Russian assets, which is the amount of their investments in the Russian economy, according to calculations based on data from the countries' national statistical services.
On Friday (14 June), the G7 countries at the summit in Italy agreed on a loan structure to provide at least $50 billion to Ukraine, which will be funded by revenue generated by the interest on Russia's frozen assets.
According to the calculations, the volume of direct investment in the Russian economy of the G7 countries at the end of 2022 amounted to $82.8 billion. The United Kingdom was the largest investor in the Russian economy, with assets of $18.9 billion, according to the latest available data. Germany's investments in Russia amounted to $17.3 billion, France invested $16.6 billion, and Italy $12.9 billion. The United States invested $9.6 billion, Japan $4.6 billion, and Canada $2.9 billion.
After the start of Russia's military operation in Ukraine in February 2022, the European Union and the G7 froze almost half of Russian foreign currency reserves amounting to about 300 billion euros ($325 billion). Moscow has maintained that any attempts to confiscate Russian assets amount to theft and a violation of international law.
Russian President Vladimir Putin said on Friday that the seizure of Russian state assets by the Western countries will not go unpunished.
Messenger/Mumu
