The European Commission has proposed that the leaders use some of the frozen assets — totaling 210 billion euros ($246 billion) — to underwrite a 90 billion-euro ($105 billion) “reparations loan” to Ukraine. The U.K., Canada and Norway would fill the gap.

The European Union wants to impose strict “Buy European” rules on Ukraine’s potential loan backed by Russian assets, which leaders will try to finalize during a summit on Thursday.

The European Union is on the precipice of a momentous decision on whether to use frozen Russian assets to finance more support for Ukraine. Critics argue the plan is legally questionable and risks retaliation by Moscow.

The U.S. Senate voted overwhelmingly on Wednesday to advance a $901 billion bill setting policy for the Pentagon, sending the massive piece of legislation to the White House, which has said President Donald Trump will sign it into law.

Often left out by the United States in peace negotiations, European countries are working to assert their leadership and bolster Ukraine with an ambitious funding plan. But can they agree?

European leaders have unveiled a security guarantees plan for Ukraine. It includes, among other measures, protection of the country's airspace and maritime navigation, according to ajoint statement by European leaders.

The president said he had exchanged “pretty strong words” with European leaders, while Russia signaled it saw itself as increasingly on the same page as the U.S.