Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Sirens are now sounding in Lotan, Ardanel Ranch, and Yahel
Sirens are sounding in Kibbutz Lotan, north of Eilat, on the border with Jordan, due to suspected drone infiltration
Israeli media: 2 settlers killed and 38 others injured after an Iranian missile struck the Rishon LeZion area, south of Tel Aviv
Israeli emergency service (Magen David Adom): 21 individuals injured in the latest rocket strike on Rishon LeZion in central region
Israeli media: 14 people injured after an Iranian rocket struck central "Israel"
Israeli emergency service (Magen David Adom): Several homes in the central region were hit by the latest Iranian rocket barrage, resulting in 9 injuries, including one in critical condition
Israeli media: Several buildings damaged by a rocket strike in the central region, with reports of people trapped
Israeli media: Several people are wounded and a number of homes are heavily damaged by the ballistic missile impact in central 'Israel'
Israeli media: Reports of casualties and damage in the central region as a result of the latest missile barrage from Iran
Israeli media: Iran launched three missile salvos toward "Israel" within 15 minutes

Release of frozen Russian assets tied to Ukraine peace process: Meloni

  • By Al Mayadeen English
  • Source: Agencies
  • 15 Jun 2024 22:24
3 Min Read

Italy's prime minister stressed after the G7 summit that Russia would not get any of its frozen assets back until a peace agreement is reached in Ukraine.

Listen
  • x
  • Italian Prime Minister Giorgia Meloni speaks during a final media conference at the G7 in Borgo Egnazia, near Bari in southern Italy, Saturday, June 15, 2024. (AP Photo/Andrew Medichini)
    Italian Prime Minister Giorgia Meloni speaks during a final media conference at the G7 in Borgo Egnazia, near Bari in southern Italy, Saturday, June 15, 2024. (AP)

At a press conference following a G7 summit in Italy, Italian Prime Minister Giorgia Meloni stated on Saturday that the release of Russian assets frozen in Western jurisdictions will be contingent upon the commencement of a peace process in Ukraine. 

She further mentioned that the forthcoming discussions would address financial contributions toward Ukraine's reconstruction efforts.

"It is clear that since the assets were frozen due to sanctions and since the sanctions are actually related to aggression against Ukraine, the possibility of unfreezing will only be possible in the event of a peace process. But I assume that this peace process will also discuss the issue of who should pay for Ukraine's reconstruction," Meloni said.

The backing of Ukraine by G7 nations is essential for achieving any diplomatic resolution to the Ukraine conflict, Meloni noted, adding that the G7's commitment to allocating $50 billion in loans to Ukraine by year-end, sourced from earnings on Russia's frozen assets, demonstrates their ongoing support for Kiev.

Read more: BRICS ministers back mediation for Ukraine conflict resolution

Following the summit, the G7 asserted in a statement that Russia must bear responsibility for the damages inflicted on Ukraine, which have surpassed $486 billion. On Wednesday, they agreed to provide Ukraine with $50 billion by utilizing frozen Russian assets by the end of the year.

Bloomberg reported in May that the European Union agreed on a plan to utilize the income from blocked Russian sovereign assets to boost Ukraine's rehabilitation and military spending.

Related News

2024 records highest number of global conflicts since WWII: The Times

Rutte warns to raise NATO military spending to 5% or 'learn Russian'

The International Monetary Fund (IMF) previously warned that Western plans to seize frozen Russian assets could pose a threat to the global monetary system and entail unforeseen risks.

What is Putin's peace proposal?

On Friday, Russian President Vladimir Putin announced that Russia is prepared to initiate negotiations with Ukraine under specific conditions. If Kiev and Western capitals reject this offer, as they have done in the past, they bear political and moral responsibility for the ongoing violence, he said.

Putin outlined the conditions for the proposed peace plan, stating that Ukrainian forces must withdraw entirely from the Donetsk and Lugansk People's Republics, as well as from the Zaporizhzhia and Kherson regions.

He specified that the withdrawal should cover the entire territory of these regions within their original administrative borders before they became part of Ukraine. Once Kiev agrees to these terms and begins withdrawing troops while also formally renouncing NATO membership plans, Russia will immediately cease fire and commence negotiations.

Read more: Harris pledges $1.5 billion in US aid for Ukraine

Shortly after, Ukrainian President Volodymyr Zelensky told reporters that Putin's proposal echoed Russia's previous propositions, labeling it an "ultimatum".

In response to these remarks, Kremlin spokesman Dmitry Peskov clarified that the proposal is, in fact, a sincere attempt at initiating peace negotiations.

Speaking to the Izvestia newspaper, Peskov said that Putin's proposal should not be construed as an ultimatum but rather as a genuine effort towards resolving the ongoing tensions between Russia and Ukraine.

"It is surely a misunderstanding, it is exactly a peace initiative," Peskov stated.

  • Ukraine crisis
  • Giorgia Meloni
  • Meloni
  • G7
  • frozen assets
  • Russia
  • Italy
  • Ukraine
Russia & NATO

Russia & NATO

As the Draconian Western-led sanctions on Russia exacerbate the economic crisis worldwide, and as Russian troops gain more ground despite the influx of military aid into Ukraine, exposing US direct involvement in bio-labs spread across Eastern Europe and the insurgence of neo-Nazi groups… How will things unfold?

Most Read

The logo of the Iranian Ministry of Intelligence (wikidata)

Iran acquired thousands of sensitive Israeli documents: Exclusive

  • Politics
  • 7 Jun 2025
'Israel' launches major strike against Iran's nuclear program

'Israel' launches massive aggression on Iran

  • MENA
  • 13 Jun 2025
Iranian demonstrators walk on a caricature of the Israeli Prime Minister Benjamin Netanyahu during the annual Quds Day rally in support of Palestinians, in Tehran, Iran, Friday, March 28, 2025 (AP)

Iran hits 'Israel' hard without arms; intel breach lays Tel Aviv bare

  • Politics
  • 7 Jun 2025
Smoke rises after an Iranian ballistic missile directly struck Tel Aviv, Occupied Palestine, June 13, 2025 (AP)

Op. True Promise 3: Iran's ballistic missiles strike Tel Aviv

  • MENA
  • 13 Jun 2025

Coverage

All
War on Gaza

Read Next

All
Global condemnations mount against Israeli aggression on Iran
Politics

Global condemnations pour in against Israeli aggression on Iran

President Donald Trump attends the UFC 316 mixed martial arts event Saturday, June 7, 2025, in Newark, New Jersey (AP)
MENA

US denies role in attacks on Iran, yet vows to defend 'Israel'

Vehicles drive past an anti-Israeli banner showing missiles being launched, in a square in downtown Tehran, Iran, Friday, April 19, 2024. (AP)
Politics

Political, military Iranian figures vow revenge, slam US complicity

AEOI condemns IAEA silence after Israeli aggression on nuclear site
Politics

AEOI slams IAEA's silence despite Israeli aggression on nuclear site

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS