Britain is ready to allocate 8 billion pounds from Russian assets to Ukraine

The UK is about to join the of the European Union's plan and unfreeze £8 billion of frozen Russian assets to provide financial assistance to Ukraine, the newspaper reported The Times on Thursday.

How the money will be used was discussed on December 3 at a meeting of NATO foreign ministers in Brussels, but the exact mechanism for how this will happen has not yet been determined.

"We need a co-ordinated plan to draw on those Russian sovereign assets in order to be able not only just to support Ukraine in the short term, but share that overwhelming message to Russia," the Times quoted British Foreign Secretary Yvette Cooper as saying.

• On December 3, the European Commission published two options to support Ukraine's financial needs in 2026-2027a reparations loan against frozen Russian assets and borrowing on behalf of the European Union under budget guarantees.
• Belgium (where the majority of the Russian Central Bank's immobilized money is physically located) is against the reparations loan, and Hungary is opposed in principle to any financial assistance to Ukraine.
• The decision is expected at the EU summit on December 18-19.