G7 leaders will issue a joint statement in October saying that "Russia's sovereign assets will remain immobilized until Russia ends its aggression and pays for the damage it has caused to Ukraine," according to the draft prepared by this year's chair,

The Group of Seven countries plan to keep the frozen Russian assets even after the end of the war in Ukraine. Source: Japanese publication Nikkei, citing several sources in the G7, including senior EU officials,

The UK government will give an extra £2.26bn ($2.93bn) to Ukraine, using the profits from seized Russian assets held in Europe. It forms Britain’s contribution to a £38bn ($50bn) fund announced in June by members of the G7 group of leading economies.

Britain on Monday announced it will lend Ukraine nearly $3 billion to be used on weapons and aid needed to repel the Russia's invasion.

Britain will lend Ukraine 2.26 billion pounds ($2.94 billion) as part of a much larger planned loan from the Group of Seven nations backed by frozen Russian central bank assets to help buy weapons and rebuild damaged infrastructure.

The funds represent the UK’s share of a $50 billion (£38.39 billion) loan package agreed upon by the G7 nations, financed through interest generated from sanctioned Russian sovereign assets

The loan will be allocated to Ukraine's military spendings. Kyiv will be able to invest in key equipment to fight Russia, such as artillery, air defense, and wider equipment support.

The British government will transfer £2.26 billion from frozen Russian assets to Kyiv, reports the BBC. Defence Minister John Healey emphasises that this move aims to "turn the revenues of Putin's corrupt regime against him".