KYIV, Oct 13 – The G7 Finance Ministers and Central Bank Governors declared full financial support for Ukraine, as well as a commitment to keep Russia's assets frozen until it compensates for the damage to Ukraine as a result of an "illegal, unjustifiable and unprovoked war of aggression," the European Council website reported on Thursday evening.

"Russia's sovereign assets in our jurisdictions will remain immobilized until Russia pays for the damage it has caused to Ukraine," the report notes.

It is also noted that the Russian Elites, Proxies and Oligarchs (REPO) Task Force to account for Russia’s sovereign assets immobilized and held in REPO member jurisdictions has estimated the value of such assets at approximately $280 billion.