G7 Not Planning to Unfreeze Russian Assets After End of Ukraine Conflict - Reports

"We ... reaffirm that Russia's sovereign assets in our jurisdictions will remain immobilized until Russia ends its aggression and pays for the damage it has caused to Ukraine," the draft of the leaders' statement, quoted by Nikkei, read.

The G7 intends to guarantee a $50 billion loan for Ukraine, to be repaid by windfall profits from the frozen Russian assets, the news agency said, citing multiple G7 and EU sources.

Last month, European Commission President Ursula von der Leyen recommended EU member states to consider loaning Ukraine 35 billion euros ($38 billion) that will be repaid with windfall profits earned by Russia's frozen assets. The proposal was endorsed by the European Parliament earlier on Tuesday. European Commissioner for Justice Didier Reynders said that the G7 would announce their contributions to Kiev's $50 billion loan secured by Russian assets in Washington on October 25.