Britain is ready to transfer £8 billion of frozen Russian assets to Ukraine - The Times
Kyiv • UNN
The UK government plans to transfer £8 billion of frozen Russian assets to support Ukraine. These funds could cover more than two-thirds of Ukraine's financial needs for the next two years.
The UK government is ready to transfer 8 billion pounds sterling (about $10.6 billion - ed.) of Russian assets frozen in the Kingdom to support Ukraine. This is reported by The Times, informs UNN.
Details
According to the publication, British government officials warned that Russian dictator Vladimir Putin is an "active threat to the citizens, security and prosperity of Great Britain."
As part of international efforts to increase pressure on Putin, the UK is trying to reach an agreement with the European Union and other countries, including Canada, which could release up to 100 billion pounds sterling for Ukraine's military efforts.
It is indicated that these funds will cover more than two-thirds of Ukraine's financial needs over the next two years, either to continue the war or to finance reconstruction if a peace agreement is reached.
"A government source said that the exact mechanism for unblocking 8 billion pounds sterling of Russian assets held in the UK and transferring them to Ukraine has not yet been finalized," the publication adds.
Context
Belgian Prime Minister Bart De Wever stated that he hopes for a "fruitful discussion" with German Chancellor Friedrich Merz on Friday regarding the EU's plan to use frozen Russian assets to support Ukraine.
Earlier, German Chancellor Friedrich Merz canceled his trip to Oslo and will arrive in Brussels on Friday for a private dinner to convince the Belgian leadership to support a "reparation loan" to Ukraine of 165 billion euros, using the monetary value of frozen Russian state assets located on Belgian soil.