British banks oppose idea of using frozen russian sovereign assets - FT

The largest banks in the UK oppose the use of about GBP 8 billion (USD 10.7 billion) of frozen sovereign assets of the aggressor country russia to transfer to Ukraine.

The British edition of the Financial Times wrote about this with reference to its own sources.

Unnnamed senior bankers said that banks fear that they may face legal risks if they use frozen russian assets. Credit institutions are concerned about the legality of this issue.

"The legal risk is that if Ukraine doesn't pay back, you need to repossess an asset that the government says is yours but Russia says isn't," said one of the interlocutors of the publication.

The Financial Times writes that the main problem in this matter is the lack of guarantees that reparations to Ukraine from russia will be included in the peace agreement.

British banks also fear that after the transfer of russian assets to Ukraine, they will be left without protection if russia wants to sue them.

The interlocutors of the publication refused to disclose which banks hold the frozen sovereign assets of the russian federation.

As the Ukrainian News agency earlier reported, in early December, Politico wrote that the Japanese government refused the European Union to transfer frozen russian assets to Ukraine.

Not long before, it became known that France also does not intend to open access to the European Union to russia's frozen assets.

In November, the European Commission offered three options for long-term financing to EU countries. The most favorable for the bloc is the use of frozen russian assets.