The UK government has confirmed that it has frozen £25 billion (about $32.47 billion) of Russian assets.
This is evidenced by a report from the Office of Financial Sanctions Enforcement (OFSI).
Over the year, the amount of frozen assets of the Russian Federation increased by 10%. That is, by £2.3 billion (almost $3 billion).
Meanwhile, the European Union holds a much larger amount — about €200 billion ($217 billion), most of which is held in the Belgian depository Euroclear.
During a visit to Kyiv, British Prime Minister Keir Starmer said he had discussed confiscating frozen Russian assets with President Volodymyr Zelensky, but it was a "complicated issue".
The G7 countries, which include the United Kingdom, have launched the Extraordinary Revenue Acceleration for Ukraine mechanism. It provides for financing Ukraine with profits from frozen Russian assets located in the European Union and other jurisdictions.
Ukraine has already received over €4 billion ($4.35 billion) under this mechanism. In total, the ERA is expected to provide Kyiv with approximately $50 billion by the end of 2025. The money will go to support the stability of the Ukrainian economy, finance social and military spending, and restore critical infrastructure.
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