The Group of Seven (G7) countries intend to keep Russian assets frozen until the Ukrainian conflict is resolved, according to a statement published Friday on the White House website.

"To counter Russia’s attempt to circumvent G7 measures to date, Leaders will support the establishment of an Enforcement Coordination Mechanism, which will be chaired by the United States in the first year. To ensure Russia pays for Ukraine’s long-term reconstruction, G7 countries will continue to keep Russia’s sovereign assets immobilized until there is a resolution to the conflict that addresses Russia’s violation of Ukraine’s sovereignty and integrity," the statement said.

Russian President Vladimir Putin announced a special military operation in Ukraine on Feb. 24, 2022, in response to a request for help from the leaders of the Donbass republics. In response to Russia's decision, the West began to impose numerous and extensive sanctions against it in stages. At the same time, Western states began to supply arms and military equipment to Kyiv.