G7 seeks agreement on $50 billion loan for Ukraine by end of October

The G7 countries aim to finalize a $50 billion loan for Ukraine by the end of October. This agreement would allow funds to be available before the end of the year, according to a senior EU official. The EU plans to contribute up to $39 billion of the loan, funded by profits from frozen Russian assets. Commitments have already been made by Canada, the UK, and Japan, while the U.S. seeks assurances regarding asset repayment. To address U.S. concerns, the EU is considering extending the renewal period for freezing Russian assets from six to 36 months. This change requires unanimous approval from all EU member states, which may face challenges.