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UK Set to Use Immobilized Russia's Assets to Finance Ukraine's Military Campaign
The British government is set to progress with using the total value of frozen Russia's assets to aid Ukraine's war effort, PM Sir Keir Starmer has declared.
In a joint statement, the heads of state of the UK, the French Republic, and Germany emphasized that this joint measure would escalate tension on Russian President Vladimir Putin and compel Moscow to engage in negotiations.
They added that the initiative would be implemented in tight collaboration with the US.
United Kingdom sanctions have frozen over £25bn of Russia's funds since the Russian government launched its comprehensive attack against the Ukrainian nation in 2022. However, until now, funds provided to Ukraine using Russia's holdings had exclusively been taken from gains and dividends generated on them.
Sir Keir told Ukraine's leader Volodymyr Zelensky that the Britain, France, and Germany were in agreement in their aim to push forward toward using the complete amount of the seized Russia's state funds to halt hostilities.
He added that additional restrictions over the next period would apply more pressure on Russia.
This statement is subsequent to EU officials gathered in Copenhagen last week to debate using frozen Russia's assets for a €140bn financial aid to the Ukrainian nation.
In the previous month, President Donald Trump called on G7 allies to take or otherwise use frozen Russia's assets, based on media sources.
The total of seized Russia's holdings in the EU is calculated to be approximately €211bn.
President Zelensky calls on UK's Sir Keir Starmer to participate in the PURL programme
Moscow carried out extensive missile and drone strikes across the Ukrainian territory on that day, causing power cuts in large parts of Kyiv, the city, and eight other regions.
Two people were fatally injured and no fewer than 20 people were hurt in the assault, authorities in Ukraine said.
In a post on an online platform following the attack, Zelensky stated that the strategic strike aimed at public and utility structures.
"The necessity is not just talk but concrete steps - from the US, EU, and the Group of Seven - in delivering air defence systems and implementing sanctions," he wrote.
"Every sanction decision undermines Moscow's military apparatus," Zelensky wrote, in a separate post.
Also on Friday, Zelensky told the press he would urge Sir Keir to participate in the PURL program, under which alliance members acquire arms from the United States to provide to Ukraine.
While applauding the United Kingdom's consistent assistance for Kyiv, he noted it should indicate firmly that it would take part in the system, as well as enforce further measures on Russia.
Significant Attacks Cause Outages in the Capital and Nationwide
- Ukraine War
- France
- Federal Republic of Germany
- Russian Federation
- Ukraine
Rita Jenkins
A financial strategist with over a decade of experience in wealth management and investment planning, dedicated to empowering others.
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