The EU is approaching a decision on the use of profits from frozen Russian assets to help Ukraine; the US has found a way to transfer up to €50B.

The Minister of Foreign Affairs of Lithuania, Gabrielius Landsbergis, believes that the EC and the Council of the EU are close to deciding to allocate to Ukraine the profits obtained from Russian Federation assets.

“Discussions are ongoing. There are certain steps forward. And now the question of whether this percentage can be used to restore Ukraine and from which year the profit should be taken is being discussed,” he said.

As well, the US proposes attracting up to €50B for Ukraine by securing loans secured by future profits from frozen Russian assets and reducing taxes on income from these assets. US officials hope to secure agreement from their EU allies before the G7 summit in June. The move could involve issuing bonds to the private sector or borrowing by G7 governments that would be repaid with interest income.

At the same time, the head of the NBU, Andriy Pyshnyi, admitted that one way to use these assets is to obtain a loan secured by their generated revenue.