British MPs call for frozen Russian assets to be sent to Ukraine.

The UK should transfer all frozen Russian assets to Ukraine. This would send a clear signal to Moscow that “aggressors must and will pay.” In a joint letter, a group of British MPs and politicians from allied countries argue that the government should find a way to legally transfer $300B in frozen Russian Central Bank reserves to Ukraine. They believe transferring at least £25.5B stored in Britain would be a “clear signal” of strategic resolve and help deter future conflicts.

The transfer of assets itself is believed to be associated with legal problems. However, the politicians emphasize that it is necessary to find a way around these issues, as there is an undeniable moral, strategic, and legal argument in favor of using Russian state assets to support Ukraine.

It is noted that the $50B loan funded by interest from these frozen assets is an essential first step, but it only provides Ukraine with emergency funding for a maximum of a year. In addition, if the assets are released, Ukraine or G7 taxpayers will have to repay the loan.