BRUSSELS, October 9. /TASS/. EU ambassadors have agreed on a mechanism for a 35 billion euro loan to Kiev against the proceeds of frozen Russian assets and launched a written procedure to approve it in the EU Council, the Hungarian Presidency said on its X page.

"The ambassadors agreed to use the written procedure for the adoption of the following legal acts on the use of extraordinary revenues stemming from Russia’s immobilised assets to service and repay loans: a regulation establishing the Ukraine Loan Cooperation Mechanism and providing exceptional macro-financial assistance to Ukraine. The written procedure will start once the European Parliament has adopted its position on the draft regulation," the document said.

The 35 billion euro loan from the EU should be part of the G7 credit line, which is expected to total 50 billion dollars or 45 billion euros.