UK Set to Employ Seized Russia's Assets to Fund Ukraine's War Effort

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The United Kingdom is ready to advance with using the full worth of seized Russia's funds to bolster the Ukrainian military campaign, Prime Minister Sir Keir Starmer has announced.

In a collective announcement, the heads of state of the United Kingdom, France, and Germany emphasized that this unified step would increase strain on Moscow's head Vladimir Putin and compel Russia to come to the table.

They added that the decision would be executed in tight collaboration with the United States.

UK sanctions have blocked in excess of £25bn of Russia's funds since Russia began its comprehensive attack against Ukraine in 2022. However, until now, resources sent to the Ukrainian government using Russian assets had solely been taken from gains and dividends generated on them.

Sir Keir told Ukrainian President Volodymyr Zelensky that the UK, France, and Germany were in agreement in their goal to advance efforts toward employing the complete amount of the immobilized Moscow's national assets to halt hostilities.

He added that more sanctions soon would apply more pressure on the Russian government.

This statement follows European Union officials gathered in Copenhagen recently to discuss employing frozen Russia's assets for a €140bn loan to Ukraine.

Recently, American leader Donald Trump encouraged Group of Seven partners to seize or utilize frozen Russia's assets, based on media sources.

The value of seized Russia's holdings in the EU is calculated to be almost €211bn.

President Zelensky urges UK's Sir Keir Starmer to join the Purl programme

The Russian government launched large-scale aerial attacks across Ukraine on Friday, leading to power cuts in many areas of Ukraine's capital, Kyiv, and several other zones.

Two people were lost their lives and no fewer than 20 people were injured in the attack, the Ukrainian government stated.

In a update on X subsequent to the strike, Zelensky stated that the premeditated assault focused on non-military and power facilities.

"What is required is not empty words but firm measures - from the America, Europe, and the Group of Seven - in providing defense mechanisms and applying restrictions," he emphasized.

"All penalty impositions diminishes Moscow's military apparatus," Zelensky wrote, in a additional update.

Also on Friday, Zelensky informed media outlets he would press Sir Keir to join the weapons procurement scheme, under which alliance members purchase weapons from the US to provide to the Ukrainian forces.

While commending the Britain's consistent assistance for Ukraine, he said it should indicate firmly that it would take part in the system, as well as impose more sanctions on Moscow.

Major Russian Strikes Cause Outages in the Capital and Nationwide

  • Conflict in Ukraine
  • France
  • Federal Republic of Germany
  • Russian Federation
  • Ukrainian Nation
Mary Hernandez
Mary Hernandez

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