The United Kingdom has announced its readiness to transfer to Ukraine frozen Russian assets amounting to 8 billion pounds, which is approximately 10.6 billion dollars. The decision is seen as one of the largest financial contributions to support Kyiv in recent years. This is reported by The Times.
Transfer of frozen Russian assets to Ukraine
According to the publication, British ministers have already agreed to allocate the assets of the Russian Federation for Ukraine's financial needs. The publication emphasizes: «Ministers are ready to transfer 8 billion pounds of Russian assets, frozen in the United Kingdom, to support Ukraine».
The U.S. government has supported the idea, emphasizing that the Kremlin poses a real threat to the security of the United Kingdom itself. London is actively promoting international pressure on Moscow and coordinating its position with the EU and Canada.
According to British estimates, these funds could cover more than two-thirds of Ukraine's financial needs in the next two years. This issue was discussed at a meeting of NATO foreign ministers in Brussels.
Frozen Russian assets: what hinders their use
Despite the stated readiness, the mechanism for transferring the funds has not yet been defined. At the same time, the European Commission is proposing a loan of 140 billion euros to Ukraine, which must be secured by frozen Russian assets. This requires the consent of all EU member states, which may delay the process.
The British initiative is viewed as a separate tool of assistance that will expedite the financing of defense and recovery efforts in Ukraine during the protracted war.
Earlier, we reported that the United Kingdom is strengthening the digital transformation of Ukraine.