WASHINGTON: Group of Seven members are discussing using nearly $300 billion in frozen Russian assets as collateral to provide loans to Ukraine, European Commission Executive Vice President Valdis Dombrovskis said on Thursday.

Dombrovskis said different options were under consideration, and the discussions were ongoing.

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He said he hoped the European Union - where the lion’s share of the frozen assets are held - would approve a separate EU measure in coming months to use the profits or interest earned on the assets to help Ukraine.