Russian President Vladimir Putin told BRICS leaders on Thursday that the Middle East was on the brink of a full-scale war after a sharp rise in tension between Israel and Iran, though the Kremlin chief also faced calls to end the war in Ukraine.

China's Xi Jinping, India's Narendra Modi and some other BRICS leaders discussed the war in Ukraine with President Vladimir Putin as the Kremlin chief chaired a major summit aimed at showing Western attempts to isolate Russia have failed.

WASHINGTON — Ukraine will receive $50 billion in loans, backed by frozen Russian assets, from Group of Seven allies, the White House said Wednesday. Distribution of the money will begin by year’s end,

The Group of 7 nations will announce on Wednesday a finalized plan to give Ukraine a $50 billion loan using Russia’s frozen central bank assets, according to Biden administration officials. The loan represents an extraordinary maneuver by Western nations to essentially force Russia to pay for the damage it is inflicting on Ukraine through a war that shows no sign of ending.

The US and Western allies are moving forward with a $50 billion loan package to Ukraine backed by the profits of frozen Russian assets, which includes a US contribution of $20 billion, the White House announced Wednesday.