Britain Prepared to Use Frozen Russian Funds to Support Ukraine's Military Campaign
The British government is set to progress with utilizing the full worth of frozen Russia's holdings to bolster Ukraine's military campaign, Leader Sir Keir Starmer has stated.
In a joint statement, the leaders of the United Kingdom, France, and Germany stated that this joint measure would escalate tension on Moscow's head Vladimir Putin and compel the Russian Federation to engage in negotiations.
They added that the move would be implemented in strong partnership with the US.
UK restrictions have immobilized over £25bn of Russian funds since Moscow initiated its full-scale invasion against the Ukrainian nation in 2022. But, until now, resources sent to the Ukrainian government using Russia's funds had exclusively been drawn from earnings and returns generated on them.
Sir Keir informed Ukrainian President Volodymyr Zelensky that the United Kingdom, the French Republic, and the Federal Republic of Germany were united in their desire to advance efforts toward utilizing the total worth of the immobilized Russia's state holdings to end the war.
He added that further measures over the next period would apply more pressure on the Russian government.
This announcement follows European Union leaders convened in the Danish capital recently to discuss using frozen Russia's funds for a 140-billion-euro loan to the Ukrainian nation.
Last month, American leader Donald Trump urged G7 allies to confiscate or utilize frozen Russian holdings, according to reports.
The worth of frozen Russian funds in the European Union is estimated to be approximately €211bn.
Leader Zelensky calls on Britain's Sir Keir Starmer to join the PURL program
The Russian government launched widespread bombardments all over the Ukrainian territory on Friday, leading to power cuts in significant regions of Ukraine's capital, the city, and eight other regions.
Two people were fatally injured and a minimum of 20 people were wounded in the strike, authorities in Ukraine reported.
In a message on an online platform after the attack, Zelensky wrote that the cynical and calculated attack targeted public and utility structures.
"What's needed is not empty words but firm measures - from the US, the European Union, and the G7 - in delivering air defence systems and enforcing restrictions," he wrote.
"All penalty impositions weakens Moscow's military apparatus," Zelensky noted, in a different message.
In the same period, Zelensky informed the press he would encourage Sir Keir to enter the PURL programme, under which partner nations buy military equipment from the United States to donate to Ukraine.
While applauding the UK's firm backing for Ukraine, he noted it should send a clear signal that it would take part in the initiative, as well as enforce additional sanctions on the Russian Federation.
Significant Attacks Cause Outages in Kyiv and Across Ukraine
- Conflict in Ukraine
- France
- Federal Republic of Germany
- Russia
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