In the wake of Russia’s full-scale invasion of Ukraine in 2022, British Prime Minister Rishi Sunak has urged Western nations to take bolder steps in confiscating Russian assets that were frozen following the aggression. Sunak emphasized the importance of hitting the Russian war economy harder and seizing the hundreds of billions of dollars in assets currently frozen.
In an article published in the Sunday Times, Sunak highlighted the ongoing need for support to Ukraine, stressing the necessity of providing long-range weapons, drones, munitions, and other assistance to bolster Ukraine’s defense against Russian aggression.
The call for action comes amid discussions between British Investment Minister Dominic Johnson and U.S. Deputy Treasury Secretary Wally Adeyemo regarding the seizure of frozen Russian assets. It is emphasized that any such action must strictly adhere to international law.
Since the invasion in 2022, the European Union, United States, Japan, and Canada collectively froze approximately $300 billion of Russian central bank assets. The Group of Seven (G7) nations have been exploring the possibility of seizing these assets as a means of holding Russia accountable for the damage caused by its invasion of Ukraine.
Sunak also urged the United States to continue providing financial and military support to Ukraine, acknowledging the significant contributions made by the U.S. to Ukraine’s security and the broader Euro-Atlantic region.
In a recent development, Britain’s defense ministry announced a substantial aid package of 245 million pounds (approximately $311 million) to fund Ukrainian artillery ammunition. This announcement underscores the ongoing commitment of Western nations to stand with Ukraine in the face of Russian aggression and support its defense efforts.
Comments