UK Prepared to Utilize Frozen Russian Funds to Fund Ukraine's War Effort

Placeholder Related Image

The British government is prepared to move forward with employing the full worth of immobilized Russian funds to support the Ukrainian military campaign, Leader Sir Keir Starmer has stated.

In a shared declaration, the officials of the United Kingdom, the French Republic, and Germany stated that this unified step would increase strain on Russian President Vladimir Putin and persuade the Russian Federation to come to the table.

They further noted that the initiative would be implemented in tight collaboration with the United States.

UK restrictions have frozen over £25bn of Russia's funds since the Russian government launched its full-scale invasion against the Ukrainian nation in 2022. However, previously, funds provided to Ukraine using Russia's holdings had solely been sourced from gains and dividends earned on them.

Sir Keir told President Volodymyr Zelensky that the United Kingdom, France, and the Federal Republic of Germany were aligned in their desire to drive progress toward employing the complete amount of the frozen Russia's state holdings to halt hostilities.

He added that further measures soon would apply more pressure on Moscow.

This declaration is subsequent to European leaders gathered in Copenhagen previously to consider employing immobilized Russian assets for a 140-billion-euro credit to Ukraine.

Last month, American leader Donald Trump called on Group of Seven partners to seize or otherwise use immobilized Russia's funds, as reported by media sources.

The worth of frozen Russia's assets in the European Union is assessed to be nearly €211bn.

President Zelensky urges UK's Sir Keir Starmer to take part in the weapons procurement initiative

Russia executed extensive aerial attacks throughout the Ukrainian territory on recently, leading to power cuts in significant regions of the capital city, the city, and eight other regions.

Two people were fatally injured and at least 20 people were wounded in the attack, the Ukrainian government said.

In a update on X after the strike, Zelensky commented that the cynical and calculated attack aimed at civilian and energy infrastructure.

"What is required is not just talk but firm measures - from the America, Europe, and the G7 - in delivering anti-aircraft weapons and implementing penalties," he emphasized.

"Each restrictive measure weakens the Russian war effort," Zelensky declared, in a different message.

Also on Friday, Zelensky told reporters he would press Sir Keir to participate in the weapons procurement programme, under which alliance members purchase weapons from the US to provide to the Ukrainian forces.

While praising the United Kingdom's consistent assistance for Ukraine, he remarked it should indicate firmly that it would take part in the program, as well as apply more restrictions on Moscow.

Major Russian Strikes Disrupt Electricity in Kyiv and Nationwide

  • War in Ukraine
  • France
  • Germany
  • Russian Federation
  • Ukrainian Nation
Sydney Trujillo
Sydney Trujillo

A renewable energy expert with over a decade of experience in solar and wind power systems, passionate about eco-friendly innovations.