British MPs demand transfer of USD 300 billion from frozen russian assets to Ukraine

The British Parliament has demanded that more than USD 300 billion from frozen russian assets be transferred to Ukraine.

The MPs sent a corresponding appeal to The Times newspaper.

The letter was signed by more than ten British MPs, as well as politicians from Germany, Poland and the Baltic countries. The authors of the letter believe that the British government should develop a way to legally transfer USD 300 billion of frozen reserves of the Central Bank of russia to Ukraine.

They also note that the transfer of at least GBP 25.5 billion, which is stored in accounts in the UK, would send a "clear signal" of strategic resolve and help prevent future conflicts.

"Only the use of the assets themselves guarantees that russia will pay for its crimes," the MPs write.

Previously, the G7 countries pledged to provide Ukraine with a USD 50 billion loan, which will be repaid only with interest on frozen assets. However, the signatories of the letter believe that USD 50 billion is only the first step that will provide Ukraine with emergency financing for a maximum of a year.

"Russia's military economy is stretched to the limit. Therefore, the seizure of foreign assets of the aggressor is of strategic importance. This is legal. This will not harm financial stability," the MPs note.

As previously reported, at the end of December 2024, Ukraine received the first billion dollars from the United States, secured by income from frozen assets of the russian federation.

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