Countries of the G7, during the summit in Italy, have agreed to allocate about $50 billion to Ukraine by the end of the year. These funds will be repaid using future revenues obtained from frozen Russian assets, according to the Ministry of Finance of Ukraine. “This is expected that Ukraine will receive the funds in July 2024. 90% will be used for defense needs and 10% for reconstruction and recovery,” the statement says. Use of frozen assets of the Russian Federation The European Union has recently approved the transfer of revenues from frozen Russian assets to Ukraine. In this regard, the G7…