British MPs demand that Kyiv be given £25bn of Russian assets in the country
More than a dozen British MPs, as well as policy from Germany, Poland and the Baltic republics demanded that frozen Russian assets be handed over to Ukraine. They set out their opinion in a letter they sent to The Times.
The politicians believe the British government should work out a way to legally transfer $300 billion of frozen Russian Central Bank reserves to Kyiv. They say transferring at least £25,5 billion held in UK accounts would send a “clear signal” of strategic resolve and help prevent future conflicts.
Previous loans and emergency funding are not enough. Only using the assets themselves will ensure that Russia pays for its crimes
– the letter emphasizes.
The G50 countries had previously committed to providing Kyiv with a $XNUMX billion loan, which would be repaid only through interest on frozen assets. However, the MPs who signed the letter believe that this amount of frozen interest on assets is only the first step, which will provide Ukraine with emergency financing for a maximum of one year.
Military economy Russia is strained to the limit. Therefore, the seizure of the invader's foreign assets is of strategic importance. It is legal. It will not harm financial stability
– the authors of the letter are confident.
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