Britain Prepared to Utilize Seized Russia's Assets to Finance Ukraine's War Effort
The United Kingdom is ready to advance with utilizing the total value of immobilized Russia's funds to aid the Ukrainian military campaign, PM Sir Keir Starmer has stated.
In a joint statement, the officials of the United Kingdom, France, and the Federal Republic of Germany asserted that this unified step would heighten pressure on Russia's leader Vladimir Putin and urge the Russian Federation to participate in talks.
They added that the initiative would be carried out in tight collaboration with the US.
UK sanctions have frozen more than £25bn of Russian assets since the Russian government began its full-scale invasion against Ukraine in 2022. However, previously, funds allocated to the Ukrainian government using Russian assets had only been taken from earnings and returns accrued on them.
Sir Keir informed Ukrainian President Volodymyr Zelensky that the Britain, the French Republic, and the Federal Republic of Germany were in agreement in their desire to push forward toward employing the full value of the frozen Moscow's national assets to end the war.
He stated that more sanctions in the coming days and weeks would increase the strain on Russia.
This statement is subsequent to EU officials gathered in Copenhagen previously to debate using seized Russia's funds for a €140bn financial aid to the Ukrainian nation.
In the previous month, American leader Donald Trump called on international partners to confiscate or employ seized Russia's funds, based on media sources.
The total of frozen Russia's holdings in the EU is calculated to be almost €211bn.
President Zelensky urges Britain's Sir Keir Starmer to take part in the weapons procurement programme
Russia executed widespread missile and drone strikes across the Ukrainian territory on Friday, leading to electricity outages in significant regions of the capital city, Kyiv, and several other zones.
Several persons were lost their lives and no fewer than 20 people were hurt in the strike, the Ukrainian government stated.
In a message on X after the incident, Zelensky stated that the strategic strike aimed at civilian and energy infrastructure.
"What's needed is not mere statements but decisive action - from the United States, the European Union, and the G7 - in supplying air defence systems and implementing sanctions," he emphasized.
"All penalty impositions weakens Russia's war machine," Zelensky noted, in a separate post.
Additionally that day, Zelensky stated to the press he would encourage Sir Keir to participate in the PURL programme, under which Nato countries acquire military equipment from the America to provide to the Ukrainian forces.
While applauding the UK's strong support for Kyiv, he remarked it should send a clear signal that it would take part in the initiative, as well as enforce additional sanctions on the Russian Federation.
Major Russian Strikes Cut Power in the Capital and Nationwide
- Conflict in Ukraine
- French Republic
- Federal Republic of Germany
- Russia
- Ukraine
