EU countries look to extend freeze on Russian assets to secure G7 loan to Ukraine

FILE PHOTO: Plastic letters arranged to read "Sanctions" are placed in front of EU and Russia's flag colors in this illustration taken February 25, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

BRUSSELS (Reuters) -European Union member states discussed options for extending the renewal period of sanctions on Russian central bank assets to secure a major Group of Seven loan to Ukraine, an EU draft document showed and diplomats said on Wednesday.

Leaders of the Group of Seven major democracies and the EU agreed in June to use the interest on frozen Russian assets to underpin a $50 billion loan for Ukraine to help it defend itself against Moscow's invasion.