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"Financial support is very necessary, as well as military support," he said, acknowledging growing acceptance that the military conflict could drag on. "We should be ready that this war will last longer than we expected,” he said, noting that G7 partners were no longer pushing Ukraine to accept an end to war - as they had last year - but were now signaling their support for a longer conflict. Marchenko said there was also growing openness among donor countries to explore using Russia's frozen assets to pay for Ukraine's reconstruction than even six months ago. "Our partners are thinking about the possibility of using Russian assets as a necessary tool to support Ukraine. Marchenko said U.S. Treasury officials had told him the United States had a low amount of Russian assets, but the issue was of greater concern in Japan, Switzerland and EU countries.

REUTERS/Peter Nicholls/File PhotoWASHINGTON/LONDON, Feb 17 (Reuters) - U.S.-based investment firm BlackRock said on Friday it would join a new sovereign debt roundtable set up to accelerate progress on stalled relief efforts for distressed countries, with Britain's Standard Chartered also joining, according to sources. "We welcome the Global Sovereign Debt Roundtable and look forward to engaging constructively in the dialogue alongside other key stakeholders," a spokesperson for BlackRock (BLK.N) told Reuters. Unlike the G20's Common Framework platform for bilateral debt restructuring, the roundtable talks include public and private creditors as well as borrowing countries. Some 52% of private-sector-held sovereign debt is under contract in New York state. "Private creditors are major players in many debt restructurings and need to share the responsibility for achieving a successful restructuring," Malpass added.

But she said a more effective debt restructuring process was also needed, and China had a big role to play. The Paris Club creditor nations last month reached out to China and India seeking to coordinate closely on Sri Lanka's debt talks, but are still awaiting a reply. German Finance Minister Christian Lindner also joined the growing criticism of China's lack of timely participation in debt restructuring for lower-income countries. China has argued it would not take part in some cases unless the IMF and World Bank also took a haircut. Lindner told reporters he regretted that China had not accepted his invitation to participate in the G7 roundtable with African countries.

Together with Ethiopia and Zambia, Chad was one of three initial countries to seek a debt restructuring under a G20 initiative. That could happen in 2024, the source said, when Chad will face a high level of debt service payments. Chad's debt-relief discussions under the G20 framework have been led by the Paris Club and Saudi Arabia. A French finance ministry source on Monday said the creditors were close to a deal. The source said discussions were continuing with Zambia, whose finance minister also participated in the G7 meeting with African finance ministers, an event coordinated by current G7 president Germany.

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