EU ambassadors agreed on May 8 to use the windfall profits from the frozen Russian assets to fund Ukraine's reconstruction and defense needs. Kyiv is expected to receive roughly 3 billion euros ($3.2 billion) every year, according to earlier discussions. Read also: IEA recommends 10 steps for Ukraine’s energy security ahead of winter

The European Commission plans to announce a 35 billion euro ($39 billion) loan to Ukraine as part of a G7 scheme to raise $50 billion on the back of future profits from frozen Russian state assets, the Financial Times reported on Friday,

Russian assets to be allocated to meet Ukraine’s humanitarian needs this winter, Ursula von der Leyen says. Ukraine’s air force said on Thursday it had shot down all 42 drones and one of four missiles used by Russia during overnight attacks,