UK to Tap Frozen Russian Assets for Ukraine War Fund

UK to Tap Frozen Russian Assets for Ukraine War Fund

London backs plan to seize full £25bn in Russian holdings

The UK is prepared to use the entire value of frozen Russian state assets to support Ukraine’s war effort, Prime Minister Sir Keir Starmer announced Friday, in a coordinated move with France, Germany, and the US.

A joint statement from the three European leaders said the action would “increase pressure on Putin” and help “bring Russia to the negotiating table.” Until now, only profits and interest from frozen assets were being used to aid Kyiv — not the principal itself.

Starmer told Ukrainian President Volodymyr Zelensky the allies were “united in driving progress toward using the full value of immobilised Russian sovereign assets to end the war.” He also pledged fresh sanctions in the coming days.

The UK has already frozen over £25 billion in Russian assets since the 2022 invasion. Across the EU, roughly €211 billion (£181 billion) remains locked under sanctions. European leaders met in Copenhagen last week to discuss using those funds to back a €140 billion loan package for Ukraine.

The move follows calls from U.S. President Donald Trump, who urged G7 allies last month to “seize or otherwise use” Russian holdings to finance Ukraine’s defense.

Friday also saw massive Russian airstrikes on Kyiv and eight regions, killing two and injuring at least 20. Zelensky said the “cynical and calculated attack” targeted power infrastructure, urging Western partners to deliver air defenses and tougher sanctions.

Key Takeaways

• UK, France, and Germany to unlock full Russian asset value for Ukraine.

• Over £25 bn in Russian assets frozen in Britain; €211 bn across EU.

• Move aligns with Trump’s G7 push as Russia launches fresh strikes on Kyiv.