Economy

The UK is allocating nearly $3 billion for military support to Ukraine through the G7 mechanism, under which the money will be returned from the proceeds of frozen Russian assets.

At closed meetings in July, Ukraine was able to reach an agreement with the Ad Hoc Creditor Committee of Ukraine’s Eurobond owners regarding debt restructuring, which will help avoid default, announced Prime Minister Denys Shmyhal.

Already on August 1, the grace period during which Ukraine did not pay off its foreign debts ends. The two options are to agree on an extension of the debt service freeze period or actual default, The Economist reports.

The leaders of the Group of Seven agreed to provide Ukraine with a loan of $50 billion by the end of the year, attracting profits from frozen Russian assets, reported Le Monde with reference to AFP.