The United Kingdom Set to Employ Immobilized Russia's Funds to Fund Ukraine's Military Campaign
The British government is prepared to move forward with using the total value of seized Russia's assets to support Ukraine's war effort, Prime Minister Sir Keir Starmer has stated.
In a shared declaration, the leaders of the Britain, France, and Germany stated that this coordinated action would increase strain on Russian President Vladimir Putin and urge Russia to engage in negotiations.
They clarified that the decision would be carried out in tight collaboration with the United States.
UK penalties have frozen more than £25bn of Russia's assets since the Russian government initiated its widespread offensive against the Ukrainian nation in 2022. Yet, until now, resources allocated to the Ukrainian government using Russian holdings had exclusively been sourced from profits and interest generated on them.
Sir Keir informed Ukraine's leader Volodymyr Zelensky that the UK, France, and the Federal Republic of Germany were aligned in their desire to drive progress toward using the total worth of the frozen Russia's state assets to halt hostilities.
He stated that additional measures in the coming days and weeks would heighten the tension on Russia.
This declaration follows EU leaders gathered in the Danish capital recently to debate using seized Russia's funds for a 140-billion-euro loan to the Ukrainian nation.
In the previous month, US President Donald Trump urged international partners to seize or employ frozen Russian holdings, as reported by media sources.
The total of seized Russia's holdings in the EU is calculated to be nearly €211bn.
Leader Zelensky calls on the United Kingdom's Sir Keir Starmer to participate in the weapons procurement initiative
Moscow carried out extensive bombardments across the Ukrainian territory on that day, causing power cuts in significant regions of Kyiv, Kyiv, and multiple additional areas.
Two people were killed and a minimum of 20 people were hurt in the assault, Ukrainian officials reported.
In a message on an online platform following the incident, Zelensky commented that the premeditated assault aimed at public and utility structures.
"What's needed is not just talk but concrete steps - from the America, EU, and the seven nations - in supplying anti-aircraft weapons and applying penalties," he emphasized.
"All penalty impositions diminishes Russia's war machine," Zelensky declared, in a different message.
Additionally that day, Zelensky told the press he would urge Sir Keir to enter the weapons procurement program, under which Nato countries purchase military equipment from the United States to donate to the Ukrainian forces.
While praising the Britain's firm backing for the Ukrainian government, he said it should demonstrate clearly that it would participate in the initiative, as well as enforce additional measures on the Russian Federation.
Significant Attacks Cause Outages in the Capital and Across Ukraine
- War in Ukraine
- France
- Federal Republic of Germany
- Russian Federation
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