EU to go ahead with Russian asset plan

The European Union will press forward with a commitment to secure aid for Ukraine from frozen Russian central bank assets regardless of issues raised by the US, the bloc's top diplomat said.

A Group of Seven agreement to leverage proceeds of the blocked assets has faced delays as Washington seeks firmer assurances that the EU will be able to renew sanctions measures in the face of the opposition from Hungary.

The US wants to ensure that the plan, which aims to generate $50 billion in loans for Kyiv, moves forward before seeking approval from Congress. "We will do whatever we can to support Ukraine, regardless of decisions in Washington," Josep Borrell told reporters in Brussels on Thursday.