(Bloomberg) -- The European Union has immobilized more than €200 billion ($215 billion) in Russian central bank assets since Moscow invaded, underscoring the importance of ongoing discussions on how to use such funds to help rebuild the war-battered country. Ukrainian officials praised a European Council move to extend trade liberalization with Ukraine for another year.

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Yevgeny Prigozhin, founder of the Wagner mercenary group, said his forces have begun pulling out of Bakhmut and handing over positions to the Russian army. A top aide to President Volodymyr Zelenskiy said he’s confident Ukraine’s anticipated counteroffensive will yield results.

Ukraine faces a long wait before it can deploy F-16s against Russia, as US and European allies begin to thrash out who might be able to supply the fighter jets. European allies aim to finalize plans as soon as June to start training Ukrainian pilots on the plans, Denmark’s acting defense minister said, after the US gave its support.

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• EU Blocks More Than €200 Billion in Russian Central Bank Assets

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Markets

Wheat futures in Chicago traded near the lowest level in more than two years as a favorable crop outlook in Europe and Russia countered gloomy prospects for US production.

Coming Up

• So-called Ramstein meeting of defense officials to discuss Ukraine’s defense capability later Thursday

• Kyiv Security Forum in the Ukrainian capital Thursday

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