UK Says Frozen $32 Bn In Russian Assets Since Ukraine War Started

London: The British government said on Friday it had frozen more than £25 billion ($32 billion) in Russian assets since the start of the war in Ukraine three years ago.

In a report, the UK Treasury also said it had sanctioned "2,001 individuals and entities" in the period between Russia's February 2022 invasion of Ukraine and March 2024.

Economic Secretary to the Treasury Emma Reynolds said: "The UK has frozen £25 billion worth of Russian assets and working with our allies, we have deprived (Russia) of over $400 billion the equivalent to four years of Russia's military spending.

"We will continue to robustly enforce our financial sanctions as part of our wider response to Russia's barbaric invasion of Ukraine."

In February, on the third anniversary of the start of the conflict, the UK unveiled more than 100 sanctions against those aiding Russian President Vladimir Putin's war in Ukraine.

While the sanctions have prevented figures connected to Putin and his government from accessing cash and property, Britain and other Western nations have yet to agree on taking control of assets.

On Thursday the UK hosted a group of military leaders keen to help secure any agreement to end fighting in Ukraine.

Alongside France's Emmanuel Macron, British Prime Minister Keir Starmer is leading efforts to shore up support for Ukraine in the event of a ceasefire after President Donald Trump tore up the United States' stance on the war and opened direct negotiations with Russia last month.

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