Bloomberg: The US and the EU are close to an agreement to provide Ukraine with $50 billion, Washington has offered its contribution

According to the publication, even if the EU does not make changes, the US will still contribute to the planned aid package in the amount of 50 billion dollars, but this amount will be less.

The US representative said that Washington intends to participate in providing Ukraine with 50 billion dollars, the size of its contribution will depend on what guarantees the EU can provide regarding the fact that Russian assets will remain immobilized.

In June, the G7 agreed in principle to provide Ukraine with a non-repayable loan, which will be repaid with the proceeds of about $280 billion in frozen Russian assets, most of which are in Europe.

The U.S. and EU initially agreed on contributions of similar amounts, about $20 billion each, until Washington demanded a longer sanctions regime from Europe to ensure the gains were preserved.

The EU is in the process of adjusting its frozen asset sanctions to only be renewed every 36 months as required by the US (not the current six-monthly). The bloc also offered to set aside 35 billion euros ($39 billion) from its collective budget if the U.S. does not join the loan.

This latest EU proposal to increase its share was rebuffed by the G7 members – Germany, France and Italy – during a recent meeting of EU ambassadors in Brussels, the sources said.

The European Commission emphasized that the aim was to secure US participation by amending the sanctions regime so that the plan would remain a G7 initiative, the source said. The commission called on member states to complete the sanctions reform, which requires unanimity.

Hungary, which has often delayed or blocked EU efforts on Ukraine, has suggested delaying any decision on Russian assets until after the November 5 US election.