Group of Seven finance ministers cited "progress" in finding ways to use profits from frozen Russian assets to help Ukraine as they wrapped up a meeting Saturday, envisioning a concrete proposal to present to a leaders' summit next month.

A search for creative yet legally sound solutions was at the top of the agenda at the two-day G7 meeting in Stresa, northern Italy, as Kyiv continues its urgent appeals for more funds from Western allies in its third year of war with Russia.

"We are making progress in our discussions on potential avenues to bring forward the extraordinary profits stemming from immobilized Russian sovereign assets to the benefit of Ukraine, consistent with international law and our respective legal systems," the ministers said in a final statement.