This is the best summary I could come up with:
Divisions over whether Ukraine can lawfully be handed an extra €30bn (£26bn) loan drawn from €270bn in seized Russian state assets are likely to be aired at a meeting of G7 finance ministers this week in Stresa, northern Italy.
Lagarde argued seizure would threaten the future stability of the financial system, undermine the principle of state immunity, and lead countries with large surpluses such as China and Gulf states to shun western reserve currencies fearing their cash will also be vulnerable to seizure.
It has already taken a huge battle for the EU to agree that some of the interest on the Russian assets seized by western powers can be handed to Ukraine.
Earlier this month, in consultation with the EU, Belgium agreed to pay more than €1bn in taxes on this profit to a joint G7 fund for Ukraine from next year.
Speaking at Lennart Meri, Nigel Gould-Davies, a senior fellow at the Institute for Strategic Studies argued: “We have this very strange ordering of risks.
Somehow we’ve persuaded ourselves that it’s more risky to take Russia’s state money than it is to send weapons to Ukraine that kill Russian soldiers.
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