UK Ready to Use Frozen Russian Assets to Support Ukraine

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The United Kingdom is “ready to move forward” with using the full value of frozen Russian assets to support Ukraine’s war efforts, Prime Minister Sir Keir Starmer announced on Saturday.

In a joint statement with the leaders of France and Germany, Starmer emphasized that this measure will “increase pressure” on Russian President Vladimir Putin and help “bring Russia to the negotiating table.”

The British Prime Minister noted that the initiative will be carried out in close coordination with the United States.

According to official data, UK sanctions have frozen over £25 billion worth of Russian assets since Moscow’s full-scale invasion of Ukraine in 2022. Until now, only the profits and interest generated by these assets have been used to assist Ukraine.

Starmer told Ukrainian President Volodymyr Zelensky that the UK, France, and Germany are “united in their desire to advance the use of the full value of immobilized Russian sovereign assets to help bring an end to the war.”