The United Kingdom has declared its readiness to advance towards using the full value of frozen Russian assets to bolster Ukraine’s defence against Moscow’s ongoing invasion, Prime Minister Sir Keir Starmer confirmed.
In a joint statement, the leaders of the UK, France, and Germany said the coordinated move would “increase pressure” on Russian President Vladimir Putin and “bring Russia to the negotiation table”. The plan will be carried out “in close cooperation” with the United States, the statement added.
Since the start of Russia’s full-scale invasion in 2022, the UK has frozen over £25 billion in Russian assets. Until now, only the profits and interest generated from these assets had been directed to Ukraine, but the new measure signals a far more assertive approach.
Sir Keir told Ukrainian President Volodymyr Zelensky that London, Paris, and Berlin were “united in wanting to drive progress towards using the full value of the immobilised Russian sovereign assets to end the war”. He also confirmed that “more sanctions in the coming days and weeks” would intensify pressure on Moscow.
The announcement follows a meeting of European leaders in Copenhagen last week, where discussions centred on using frozen Russian assets to back a €140 billion (£121 billion) loan package for Ukraine.
Last month, US President Donald Trump reportedly urged G7 allies to “seize or otherwise use” frozen Russian assets, according to the Financial Times. Across the European Union, the total value of frozen Russian assets is estimated to be around €211 billion (£181 billion).
Meanwhile, Russia launched a wave of missile and drone strikes across Ukraine on Friday, leaving vast areas of Kyiv and eight other regions without power. Ukrainian officials reported that two people were killed and at least twenty injured in the attack.
Following the assault, Zelensky described it on X as a “cynical and calculated attack” targeting both civilian and energy infrastructure. He called for “decisive action” from the United States, Europe, and the G7 to deliver air defence systems and tighten sanctions, stressing that “every sanction decision weakens Russia’s war machine”.
Speaking to the BBC, Zelensky said he would encourage Sir Keir to join the PURL programme, under which NATO members purchase American-made weapons for Ukraine. While commending Britain’s consistent support for Kyiv, he urged the UK to make a clear commitment to the initiative and introduce additional sanctions on Russia.
