The leaders of the G7 and more than 30 partner countries, as well as the EU, adopted a Joint Declaration to support Ukraine’s recovery and reconstruction, providing further military, economic, and humanitarian assistance both in the short term and in the post-war period.
“We dispel any misconception that time is on the side of Russia or that it can win by causing the economic collapse of Ukraine,” the document says.
It is emphasized that the Russian Federation must pay for the damage it has caused. Therefore, the Russian frozen sovereign assets in the West will remain frozen until it stops its aggression and compensates Ukraine for its losses. Ukraine’s international partners promise to support the country’s macro-financial stability to restore critical infrastructure, stimulate economic growth, support social stability, and implement priority reforms. The allocation of $50B to Ukraine will also provide assistance secured by revenue from frozen assets.
For its part, Ukraine is committed to implementing economic, judicial, and anti-corruption reforms and improving the systems of corporate governance, defense, and state investment management.