UK Freezes £25 Billion In Russian Assets Amid Ongoing Sanctions

2025-03-24 01:05:30

(MENAFN- AzerNews) Since Russia's full-scale invasion of Ukraine began three years ago, the UK government has frozen more than £25 billion ($32 billion) in Russian assets, according to the latest data from the UK Treasury.

This asset freeze is part of the "toughest sanctions Russia has ever faced," as stated by the British government.

Emma Reynolds, a representative from the UK Treasury, highlighted that in collaboration with allies, they have deprived Russia of over $400 billion, which equals four years of Russia's military expenditure.

Reynolds assured that the UK will continue to rigorously enforce these financial sanctions as part of its broader response to Russia's "barbaric" invasion of Ukraine.

Additionally, the UK has supported the idea of confiscating frozen Russian assets and using them to aid Ukraine. The UK is also involved in a $50 billion loan mechanism for Ukraine, which is funded by Russian assets. This framework ensures that repayments will be funded by a windfall tax on the profits from the frozen Russian assets.

MENAFN24032025000195011045ID1109347823

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.