Western governments have been vetting one proposal after another about how to finance Ukraine by leveraging frozen Russian assets. The G-7 proposed in June that Western countries borrow $50 billion in 2024, making the interest payments by seizing the investment returns on the frozen Russian assets. So far, the EU could find about $1.5 billion for Ukraine from this source. The G-7 communique implies that repaying the $50 billion loan principal will take the subsequent confiscation of the assets. The EU refused to participate in the loan, and it is doubtful that financial markets will lend on this uncertainty. We propose an alternative that is credible, sustainable and prompt: trusteeshi
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