Japan to allocate $3.3 bln to Ukraine using incomes from frozen Russian assets — Kyodo

TOKYO, July 17. /TASS/. The Japanese government plans to allocate to the Kiev government around 520 billion yen, equal of $3,3 billion at the current exchange rate, using incomes generated by Russia’s immobilized assets, the Kyodo news agency reported.
At present, the Japanese government is working on a mechanism that would make the transfer possible. It is expected to be completed by the end of the year.
The above-mentioned sum will make 6% from the total volume of aid earlier pledged to the Kiev government by the Group of Seven (G7).
The funds will not be used for military purposes, and will instead be directed to repair the country’s infrastructure, Kyodo said.
G7 leaders at a summit in Italy on June 13 reached an agreement to allocate $50 billion to Ukraine from profits from frozen Russian assets until the end of 2024.
The European Union, Canada, the United States and Japan froze Russia’s assets in the amount of about $300 billion after the start of the special military operation. Of these, about $5-6 billion are located in the United States, and most of them are in Europe, including on the international Euroclear site in Belgium (where $210 billion is stored).
As Russian Foreign Ministry Spokeswoman Maria Zakharova stated earlier, Moscow will immediately take retaliatory steps to the confiscation of its assets in the West. She called the West’s intentions to use proceeds from frozen Russian assets in favor of Ukraine cynical and criminal.