UK PM Rishi Sunak : West should be bolder about seizing Russian assets

Ronit Kawale
Ronit Kawale - Senior Editor
2 Min Read
money.it

In a bold stance, British Prime Minister Rishi Sunak has advocated for Western nations to take more assertive measures in confiscating Russian assets that were previously frozen following the country’s full-scale invasion of Ukraine in 2022. Sunak emphasized the need for a stronger approach in hitting the Russian war economy and urged for a bolder stance in seizing the hundreds of billions of frozen Russian assets.

In an article published in the Sunday Times to mark two years since the beginning of the conflict, Sunak underscored Ukraine’s ongoing need for additional long-range weapons, drones, munitions, and other forms of assistance.

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British Investment Minister Dominic Johnson recently held discussions with U.S. Deputy Treasury Secretary Wally Adeyemo on the potential seizure of frozen Russian assets. However, Johnson emphasized that any such actions should adhere to international law.

In 2022, the European Union, U.S., Japan, and Canada collectively froze around $300 billion of Russian central bank assets in response to Russia’s invasion of Ukraine. The Group of Seven (G7) countries has been exploring the possibility of seizing these assets as a means of holding Russia accountable for the damage caused by its invasion.

Sunak also called on the United States to maintain its financial and military support for Ukraine. Acknowledging the significant contributions made by the U.S., he urged continued support for Ukraine’s security and expressed confidence in the United States’ commitment to this cause.

In a separate development, Britain’s defense ministry announced a £245 million ($311 million) aid package to fund Ukrainian artillery ammunition on a recent Saturday.

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