UK reveals volume of Russian assets frozen since Ukraine war
- 22 March, 10:05
London has frozen more than £25 billion in Russian assets since the start of the full-fledged war in Ukraine three years ago, the British government said on Friday.
According to report released by the UK Treasury, the British government has sanctioned "2,001 individuals and entities" in the period between Russia's February 2022 invasion of Ukraine and March 2024.
"The UK has frozen GBP25 billion worth of Russian assets and working with our allies, we have deprived Russian of over USD400 billion, the equivalent to four years of Russia's military spending,” Treasury minister Emma Hardy said, while stressing the impact of these sanctions was having on Russia.
"We will continue to robustly enforce our financial sanctions as part of our wider response to Russia's barbaric invasion of Ukraine," minister Hardy went on saying.
The seizure of assets has long been discussed as a means of paying for military aid to Ukraine, as well as rebuilding the war-torn country once fighting ceases.
On February 24, on the third anniversary of the start of the war, the UK unveiled over 100 sanctions against those aiding Russia’s war in Ukraine.
