British Prime Minister Rishi Sunak emphasized the need for Western nations to take decisive action regarding the frozen Russian assets in response to Russia’s full-scale invasion of Ukraine in 2022.
In an article published in the Sunday Times, Sunak urged for a more aggressive approach in seizing these assets, which amount to hundreds of billions of dollars. He stressed the importance of hitting the Russian war economy harder and utilizing the frozen assets to hold Russia accountable for the damage caused by its invasion of Ukraine.
Last month, British Investment Minister Dominic Johnson engaged in discussions with U.S. Deputy Treasury Secretary Wally Adeyemo regarding the potential seizure of these frozen Russian assets. However, Johnson emphasized the necessity of conducting such actions in accordance with international law.
The European Union, United States, Japan, and Canada froze approximately $300 billion of Russian central bank assets when Russia initiated its invasion of Ukraine.
The Group of Seven (G7) nations have been exploring the option of seizing these assets as a means to ensure Russia bears the financial responsibility for the devastation caused by its actions in Ukraine.
Sunak also called upon the United States to continue providing both financial and military support to Ukraine, emphasizing the crucial role America plays in maintaining Euro-Atlantic security. He expressed confidence in the ongoing support from the United States.
Additionally, the British government announced £245 million in aid to fund Ukrainian artillery ammunition, further demonstrating its commitment to supporting Ukraine in its defense efforts against Russian aggression.
