WASHINGTON, October 17. /TASS/. G7 countries are working out the technical details of providing Ukraine with a $50 billion loan backed by profits raised from seized Russian assets, a high-ranking Washington administration official told reporters.

"We're continuing to talk with all of our G7 partners about how to land this $50 billion loan. I'm confident that we will succeed. There are a lot of technicalities here in terms of assurances and in terms of coordination and those conversations are occurring within the European Union, which has pledged to contribute up to, I believe it's 35 billion euros, which is approximately $39 billion and then the United States has committed to doing its share as well," the American official said at a special briefing in connection with US President Joe Biden’s upcoming trip to Germany.

"Those technical conversations are continuing, but I think leaders will probably cover this in terms of the political will to make this happen by the end of the year. It's, it's very important that we get this done soon," he added.

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 take legal action against anyone involved in the theft of its assets. According to the Kremlin representative, Europe made the wrong move by deciding to use Russian assets to help Kiev.