PARIS, June 12. /TASS/. Leaders of the G7 agreed to provide Ukraine with $50 billion using the income from Russia’s frozen assets until the end of 2024, AFP reported citing the Elysee Palace.

"Initially, this was the United States’ initiative. This credit will be covered with funds, obtained from the frozen Russian assets," the Elysee Palace told the news agency.

"There is an agreement. As always with the G7, the leaders make a decision and then technical specialists do their job to give it proper shape to ensure that it complies with the law, the rule of state funding, as well as financial capabilities of all sides," the source explained.