The European Council is in favor of continuing to work on channeling windfalls from immobilized Russian assets to further provide funding to Ukraine.

"The European Council invites the Commission, the High Representative and the Council to take work forward, while addressing all relevant legal and financial aspects, in order to provide additional funding for Ukraine by the end of the year in the form of loans serviced and repaid by future flows of the extraordinary revenues with a view to reaching approximately EUR 50 billion together with G7 partners as discussed at the Apulia Summit, to support Ukraine's current and future military, budget and reconstruction needs," according to the conclusions of the European Council, approved during a meeting on Thursday.

"Subject to EU law, Russia's assets should remain immobilised until Russia ceases its war of aggression against Ukraine and compensates it for the damage caused by this war," the EU is convinced.

The leaders also noted that following the adoption of EU legislation on the use of emergency revenues received from Russia's immobilized assets for further military support of Ukraine, its military-industrial potential and its reconstruction, the European Council expects the first payment this summer.