The EU plans to consider using the proceeds from the frozen assets of Russian sanctioned oligarchs to rebuild Ukraine. There are also plans to initiate a debt issue for the same purpose.

This was reported by Bloomberg.

Today, the European Commission (EC) will propose that grants from member states and third countries be used to support Ukraine.

The EC, in coordination with allies and international organizations, will propose an aid package to cover Ukraine's $15 billion financial deficit over the next three months.

Ukrainian Foreign Minister Dmytro Kuleba told his EU counterparts on Monday that up to 1 trillion euros may be needed to rebuild his country.

According to the agency's sources, the EC will offer Kiev between 7 billion and 9 billion euros in loans to finance urgent government spending. According to the draft proposal, EU member states will offer new guarantees that will allow for long-term loans, while grants from the community budget will be used to subsidize interest payments.