‘Russia has to pay’: G7 taps Moscow’s frozen assets in support of Ukraine

A simple principle underpins a contentious Thursday decision by the U.S. and key allies to tap profits from Russian sovereign assets in support of Ukraine: Moscow must make reparations.

“Russia has to pay,” European Council President Charles Michel told CNBC’s Steve Sedgwick, after the leaders of the Group of Seven (G7) major democracies agreed in principle to issue $50 billion in loans for Ukraine that are backed by the profits generated by…