British Prime Minister Rishi Sunak has urged Western nations to take a more assertive stance in dealing with the frozen Russian assets following the full-scale invasion of Ukraine in 2022.
In an article published in an early edition of the Sunday Times commemorating two years since the conflict began, Sunak emphasised the necessity for Ukraine to receive further support, particularly in the form of long-range weapons, drones, munitions, and other aid.
“We must be bolder in hitting the Russian war economy… And we must be bolder in seizing the hundreds of billions of frozen Russian assets,” Sunak declared.
The recent meeting between British Investment Minister Dominic Johnson and U.S. Deputy Treasury Secretary Wally Adeyemo focused on discussions regarding the confiscation of these assets, underlining the importance of adhering to international law.
In response to Russia’s invasion, the European Union, United States, Japan, and Canada collectively froze around $300 billion of Russian central bank assets.
The Group of Seven (G7) countries have been exploring the possibility of seizing these assets as a means of holding Russia accountable for the devastation caused by its actions in Ukraine.
Sunak also called upon the United States to maintain its financial and military assistance to Ukraine, acknowledging the significant support it has provided thus far.
“We should never underestimate what America has done for Ukraine and for Euro-Atlantic security.
I urge them to continue that support, and I am confident they will,” Sunak wrote.
Meanwhile, Britain’s defence ministry announced a commitment of £245 million ($311 million) to finance Ukrainian artillery ammunition, demonstrating the country’s ongoing support for Ukraine’s defence efforts.