The newspaper reported that “as part of international activities aimed at increasing pressure on Putin, Great Britain is trying to negotiate an agreement with the European Union and other countries, including Canada, under which it would be possible to allocate up to £100 billion to support Ukraine's war activities.”
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How much frozen Russian assets does the UK want to donate to support Ukraine?
Who poses a threat to UK security?
Which countries are working with the UK on this matter?
What is Belgium's objection to the release of Russian assets?
It was calculated that this amount “would cover more than two-thirds of Ukraine's financial needs over the next two years, either to continue the war or to finance the reconstruction of the country if a peace agreement is reached.” According to the daily, plans to use frozen Russian assets in Great Britain were discussed on Wednesday at a meeting of NATO foreign ministers in Brussels.
Belgium's opposition
The European Union is also seeking to release Russian assets worth 90 billion euros, which it holds mainly in Belgium, at the Euroclear clearing house. The Belgian government opposes this, expressing concerns about legal liability for the amount, which represents one third of the country's annual GDP. The UK, together with France, Germany and the European Commission, are putting pressure on the table, arguing that cooperation between countries on this matter is essential.
The Times reported, citing a British government source, that the exact mechanism for unlocking the £8 billion of Russian assets stored in Great Britain and transferring them to Ukraine has not yet been established.
