Britain will not use frozen Russian assets for Ukraine

Britain refuses to use frozen Russian assets to help Ukraine - FT

The UK does not plan to use frozen Russian assets to finance assistance to Ukraine on its own. This is reported by the Financial Times with reference to the British government's statement.

Solution details

London explained its position by the lack of an agreed decision among international partners.
«We will not act without international partners,» the UK government said after the leaders of European Union failed to agree on a mechanism for a reparations loan to Ukraine involving frozen assets of the Russian Federation.

London's position

The British government stressed that the country:

• does not abandon its support for Ukraine;

• will continue to coordinate actions with partners on G7;

• is considering joint funding mechanisms for Kyiv instead of unilateral steps.

London also emphasised that the UK's support for Ukraine remains «steadfast», despite the lack of consensus on the use of frozen Russian assets.

Context.

The issue of using Russia's frozen assets to rebuild and support Ukraine is being actively discussed among Western partners. At the same time, a number of countries fear the legal and financial risks of unilateral decisions without a coherent international position.