As Bloomberg says, these funds should arrive in Kyiv by the end of the year, according to the June G7 “agreement”, which provides that the loan will be repaid using the profits from more than $280B in frozen Russian funds. Although the G7’s time frame for the “agreement” is stretched out to the end of the year, Ukraine will need a decision as early as next month, when the IMF will review the financing program and demand guarantees that Kyiv’s budget needs will be met.
“We need a real mechanism. The relevant discussions have been going on for too long, and we finally need solutions,” President Zelenskyy said. However, the implementation of the G7 agreements ran into US concerns that the EU would have to renew the asset freeze every six months, along with broader sanctions against Moscow. Washington wants guarantees from the group of allies that Russian assets will remain frozen until a fair peace agreement is reached and Russia pays for the damage caused by the invasion.