Britain is developing a plan to transfer almost $11 billion in Russian assets to Ukraine

The UK may unblock £8 billion (over $10.5 billion) of frozen Russian assets to transfer them to Ukraine.

This was reported by The Times.

Now London, together with Canada, the European Union and other partners, is preparing an agreement that will help direct $130 billion in aid to Ukraine, using frozen assets.

Canada is also ready to unblock Russian money, in particular, up to 100 billion pounds to support Ukraine.

As noted, these funds would help cover more than two-thirds of Ukraine’s financial needs for the next two years. They could be used both for the continuation of the war and for reconstruction if a peace agreement is reached.

Plans for Russian frozen assets were discussed during a meeting of NATO foreign ministers in Brussels.

However, according to a British government source, there is currently no precise mechanism for unlocking the 8 billion pounds that London can transfer to Ukraine.

Recall that Belgium criticized the European Commission’s new proposal to transfer frozen Russian assets to Ukraine, stating that the document is “categorically unacceptable.”

It was previously reported that the European Union is working on an urgent legal mechanism that will allow frozen Russian money to be safely used to lend to Ukraine, avoiding risks for Belgium.

As is known,the European Union is preparing an alternative financing scenario for Ukraine in case the leaders fail to agree on using frozen Russian assets to create a reparations loan.

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