UK Set to Use Frozen Russia's Assets to Support Ukraine's Military Campaign
The UK is prepared to move forward with employing the full worth of immobilized Russian holdings to support Ukraine's military campaign, PM Sir Keir Starmer has announced.
In a joint statement, the leaders of the United Kingdom, the French Republic, and Germany asserted that this joint measure would heighten pressure on Moscow's head Vladimir Putin and urge Moscow to engage in negotiations.
They further noted that the initiative would be executed in close cooperation with the America.
United Kingdom penalties have immobilized more than £25bn of Russian funds since Russia launched its full-scale invasion against Ukraine in 2022. But, previously, funds allocated to Ukraine using Russia's holdings had solely been taken from earnings and returns generated on them.
Sir Keir assured President Volodymyr Zelensky that the United Kingdom, France, and Germany were aligned in their goal to advance efforts toward utilizing the complete amount of the frozen Russia's state holdings to end the war.
He noted that more measures soon would apply more pressure on the Russian government.
This declaration is subsequent to European Union representatives gathered in Copenhagen last week to consider utilizing seized Russia's holdings for a 140-billion-euro credit to Ukraine.
In the previous month, American leader Donald Trump called on G7 allies to seize or utilize immobilized Russian assets, based on reports.
The value of immobilized Russia's holdings in the European Union is estimated to be nearly €211bn.
President Zelensky urges the United Kingdom's Sir Keir Starmer to participate in the Purl program
Russia executed large-scale aerial attacks across Ukraine on Friday, leading to power cuts in many areas of the capital city, Kyiv, and several other zones.
Two people were killed and no fewer than 20 people were hurt in the strike, the Ukrainian government reported.
In a post on social media subsequent to the strike, Zelensky commented that the cynical and calculated attack aimed at civilian and energy infrastructure.
"What's needed is not just talk but firm measures - from the America, the European Union, and the seven nations - in delivering anti-aircraft weapons and applying restrictions," he stated.
"Each restrictive measure undermines the Russian war effort," Zelensky wrote, in a separate post.
Also on Friday, Zelensky told reporters he would press Sir Keir to enter the PURL programme, under which Nato countries buy military equipment from the US to donate to the Ukrainian forces.
While praising the United Kingdom's consistent assistance for Kyiv, he remarked it should send a clear signal that it would take part in the system, as well as enforce more measures on the Russian Federation.
Major Russian Strikes Cut Power in Kyiv and Across Ukraine
- Conflict in Ukraine
- French Republic
- Federal Republic of Germany
- Russia
- Ukrainian Nation