Britain Set to Utilize Frozen Russia's Assets to Fund the Ukrainian War Effort

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The British government is ready to advance with using the total value of immobilized Russia's holdings to support the Ukrainian defense operations, Leader Sir Keir Starmer has stated.

In a shared declaration, the officials of the United Kingdom, France, and the Federal Republic of Germany emphasized that this joint measure would escalate tension on Moscow's head Vladimir Putin and compel Moscow to engage in negotiations.

They further noted that the move would be executed in strong partnership with the US.

British restrictions have immobilized more than £25bn of Russian assets since Russia initiated its comprehensive attack against the Ukrainian nation in 2022. Yet, until now, funds provided to the Ukrainian government using Russian holdings had only been taken from profits and interest earned on them.

Sir Keir assured Ukraine's leader Volodymyr Zelensky that the United Kingdom, France, and Germany were aligned in their aim to drive progress toward using the complete amount of the immobilized Russian sovereign holdings to conclude the conflict.

He stated that more restrictions over the next period would apply more pressure on Russia.

This announcement comes after European representatives gathered in Copenhagen recently to consider employing immobilized Russian holdings for a €140 billion financial aid to Ukraine.

Recently, American leader Donald Trump encouraged Group of Seven partners to seize or utilize immobilized Russian funds, based on media sources.

The total of frozen Russian funds in the Europe is estimated to be almost €211bn.

President Zelensky urges the United Kingdom's Sir Keir Starmer to take part in the weapons procurement program

Russia executed widespread missile and drone strikes throughout the Ukrainian territory on that day, leading to electricity outages in many areas of Kyiv, the city, and several other zones.

Several persons were lost their lives and no fewer than 20 people were wounded in the strike, Ukrainian officials said.

In a update on X following the attack, Zelensky wrote that the strategic strike aimed at civilian and energy infrastructure.

"The necessity is not mere statements but decisive action - from the United States, Europe, and the G7 - in supplying anti-aircraft weapons and enforcing sanctions," he emphasized.

"Each restrictive measure diminishes the Russian war effort," Zelensky wrote, in a different message.

Also on Friday, Zelensky informed reporters he would press Sir Keir to participate in the Purl program, under which Nato countries acquire weapons from the America to provide to Ukraine.

While applauding the Britain's firm backing for Kyiv, he remarked it should demonstrate clearly that it would take part in the program, as well as enforce additional sanctions on Moscow.

Major Russian Strikes Cut Power in the Capital and Across Ukraine

  • Ukraine War
  • French Republic
  • Federal Republic of Germany
  • Russia
  • Ukraine
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