The G7 has a new plan for Ukraine

G7 finance ministers are expected to agree today on a broad plan to use the proceeds of frozen Russian funds for Ukraine, paving the way for a potential deal between leaders next month.

The challenge of finding more funds for Ukraine as it fights new territorial advances by Russia after more than two years of war dominated a meeting of finance ministers from the world's richest democracies in the northern Italian city of Stresa.

The meeting comes as Kiev claims it has "halted" Russian advances in the Kharkiv region, but Ukraine's General Staff admitted that "the enemy has had partial success" and that the "situation is tense" as fighting continues.

Yesterday, Washington announced a new package of military aid of 275 million dollars to Kiev.

Ukrainian Finance Minister Serhiy Marchenko is also expected to attend the G7 meeting today in Stresa, in order to use the interest from frozen Russian funds.

Any detailed deal will need the approval of G7 leaders, who meet next month in Puglia, but analysts suggest a "deal in principle" could be agreed today.

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