VILNIUS, September 27. /TASS/. The European Union does not intend to set specific goals for which Ukraine will be able to spend funds allocated from revenues from Russian assets, EC Executive Vice-President Valdis Dombrovskis said.

"It is not planned to set any specific goals for which Ukraine will be able to spend the loan," Dombrovskis said as quoted by the Latvian agency LETA.

According to him, Kiev will be able to cover its general budget expenses with the allocated amount.

As Dombrovskis noted, for now the EU is set to transfer 35 billion euros (approximately $39 billion) to Kiev out of the $50 billion that the G7 countries planned to allocate to Ukraine.

Dombrovskis also recalled the EU's plans to extend sanctions against Russia from six months to three years or more, but noted that Hungary could oppose it. According to him, discussions on this matter have just begun, so it is not yet possible to precisely define Budapest's position.

At the summit in Italy on June 13, the G7 leaders reached an agreement to allocate $50 billion to Ukraine by the end of 2024 from profits raised from frozen Russian assets. The text of the agreement indicates that sovereign Russian assets under the jurisdiction of Western financial institutions will be frozen until Russia completes the special operation and pays the "damages" allegedly caused to Ukraine.

In July, Kremlin spokesman Dmitry Peskov said that Russia would definitely respond to the theft of its assets in Europe. He stressed that Moscow intends to initiate legal prosecution of those involved in the theft of its assets. According to the Kremlin representative, Europe has taken the worst path by deciding to use Russian assets to help Kiev.