Germany is leaning towards supporting a U.S.-proposed plan to provide $50 billion in aid to Ukraine using profits from frozen Russian assets, Bloomberg reported on Tuesday, citing sources.

German officials, having changed their position, are now ready to support the American proposal, the agency notes.

The use of profits from frozen assets is expected to be discussed by G7 finance ministers and central bank governors during their annual meeting in Italy, which begins on Thursday.

However, German officials believe that the final decision will not be made before the meeting of the G7 heads on June 13-15, and the implementation of the plan may not happen until next year, people familiar with the situation said.

Earlier it was reported that the United States was negotiating with its G7 partners about the possibility of providing Ukraine with an aid package of up to $50 billion using profits from frozen Russian assets. Washington pushed for an agreement at a leaders' meeting in Italy in June. However, as the media noted, negotiations on this issue are difficult and may take several months.