The United States and European countries have agreed to lock up sanctioned Russian assets until Moscow pays reparations for its invasion of Ukraine, a senior U.S. official said Thursday. The move clears the way for leaders to announce a $50 billion loan package for Kyiv at the Group of Seven summit.
The highly anticipated agreement will leverage interest and income from the more than $260 billion in frozen Russian assets, largely held in Europe, to secure a $50 billion loan from the U.S. and additional loans from other partners.
