KYIV, May 6 – The United States is in talks with close partners to lead a group of allies that will provide $50 billion in aid to Ukraine, with the massive outlay to be repaid by profits from sovereign Russian assets that have been frozen - and accrued on them interest - mainly in Europe, Bloomberg reports.

The plan is being discussed among the Group of Seven nations, with the U.S. pushing to have an agreement when G7 leaders meet in Italy in June, according to people familiar with the proposal. Discussions on this topic have been difficult and an agreement could still take months, they said.