The Council of the European Union has approved plans for new, multi-billion-euro loans to Ukraine, backed by frozen Russian assets, shortly after a breakthrough in negotiations with the United States. The adopted legal texts stipulate that profits stemming from Russian sovereign assets frozen in the EU should be used for the loans, which are being provided by the Group of Seven (G7) industrialized nations. Earlier, a US government representative said the G7 agreed to the loans amounting to $50 billion. The money will be transferred to Ukraine in the form of financial aid, the EU council said l…