The EU will adjust sanctions to ensure the earnings from frozen Russian assets are not interrupted.

The EU has presented member states with two options to freeze Russian Central Bank assets for extended periods. It seeks to assuage US concerns over a G7 plan to leverage the profits from these assets in order to provide Ukraine with $50B in aid. The two options are an open-ended immobilization of the assets that would be reviewed at regular intervals or lengthening the roll-over period to 18, 24, or 36 months.

The EU, the US, and other G7 allies have been working to finalize plans to provide Ukraine with $50B in loans by the end of the year, covered by the future profits generated by the frozen Russian central bank assets. However, the US had raised concerns that the EU’s sanctions, which require an extension every six months by a unanimous vote of 27 member states, could be a problem if the freeze isn’t renewed at some point. A US Treasury official said the US is asking the EU to provide more durable assurances that the assets will remain immobilized.

The proceeds from the frozen assets are estimated to be between €3B and €5B annually. If sanctions on the assets are lifted, each G7 member would be responsible for covering their part of the financing.