Today, UK officials, including former FCDO Minister Rehman Chishti and David Lammy, are advocating for the seizure and repurposing of Russian state assets to support Ukraine's reconstruction. This initiative, which aligns with actions by key ally the US, was highlighted in a presentation bill in the House of Commons. The G7 is also being pressed to progress on this issue to bolster Ukraine's recovery efforts. However, concerns are raised about the potential economic repercussions for the West if Russian funds in Europe are used to arm Ukraine.
'Confiscating Russian state assets held in the West is just one piece of the puzzle. But it is a crucial element in the West’s overall resolve to ‘do the right thing’ and save Ukraine.' @jamesnixey (@CHRussiaEurasia) https://t.co/tRJDCrRWZK
Seizing Russia’s funds in Europe to arm Ukraine may be a tempting plan – but it could wreck the West’s economic advantage. 🖊️ @EuroBriefing https://t.co/CaF1hzEjUx
My Presentation Bill presented in @HouseofCommons now urging the U.K. Government to join our key ally US in passing legislation in seizing Russian assets to help reconstruction of Ukraine. As former U.K. FCDO Minister covering US & Sanctions working closely with US is vital. https://t.co/UAWcNmw0ql
We must use more Russian assets to fund Ukraine ✍️ @rehman_chishti and @RepFrenchHill https://t.co/ViBkpVOlC8
The UK will stand united on Ukraine for as long as it takes to win. Today I pressed the government on progress with the G7 to seize and repurpose frozen Russian state assets to support Ukraine’s reconstruction. https://t.co/LVFbzxESHY