The U.S. is in talks with close partners to lead a group of allies that would give as much as $50 billion in aid to Ukraine, with the massive outlay being repaid with the windfall profits from sovereign Russian assets that have been frozen — and are accruing interest — mostly in Europe.
The plan is being discussed among the Group of Seven nations, with the U.S. pushing to have an agreement when G7 leaders meet in Italy in June, according to people familiar with the proposal. Discussions on this topic have been difficult and an agreement could still take months, they said.
The plan signals a strong show of support from Washington after Congress approved $61 billion in assistance for Kyiv in April that had been held up for months due to partisan wrangling. The move will also put renewed pressure on the European Union to drop its objections to utilizing the immobilized Russian assets.