Biden, Macron support use of profits from Russian assets for Ukraine's benefit

The two leaders said this in a joint statement published on the White House's website, Ukrinform reports.

"The Presidents commit to support efforts within the European Union and by the G7 to bring forward the extraordinary profits from the immobilized Russian sovereign assets for the benefit of Ukraine, consistent with international law and our respective legal systems and decision-making processes," the statement said. 

They added that France and the United States remain determined to dispel any false notion that time is on Russia's side.

According to the statement, the presidents discussed options to do more to support Ukraine.

"Euro-Atlantic security as a whole is at stake in this war. France and the United States co-chair the artillery coalition at the Ukraine Defense Contact Group and intend to take new steps to provide the necessary support to Ukraine in the current phase and in the longer term," the statement read.

Earlier reports said that the U.S. is ready to lead a loan of $50 billion to Ukraine repaid by profits from frozen Russian assets if the EU can indefinitely extend sanctions against Moscow.