Britain proposed to lend Ukraine all of Russia's frozen assets 0
(Dan Tri) – Britain proposed a plan to lend Ukraine all of Russia’s assets that London is freezing.
British Foreign Secretary David Cameron (Photo: Reuters).
British Foreign Secretary David Cameron said the country is ready to lend Ukraine all of the frozen assets of the Russian central bank in British territory.
According to him, the Russian assets frozen in the UK will be used as `security` for Russia’s future compensation payments.
This option is seen as more drastic than proposals discussed in the European Union that Ukraine would only receive interests on Russian central bank assets held by the West.
`We have an opportunity to use frozen Russian assets as collateral to transfer that money to the Ukrainians because we will get that money back when Russia pays reparations for the war. That could be a way
Mr. Cameron said he did not think the above lending plan would damage the reputation of London’s financial center in any way.
According to the Guardian, this plan, if approved, will help Ukraine as the aid proposal for Ukraine continues to be stuck in the US Congress due to disagreements between Democrats and Republicans.
The G7 has been debating for more than a year the transfer of frozen Russian assets to Ukraine.
The West is considering options to legalize the confiscation of Russian assets without harming them.
Late last year, Russia warned that it had prepared a list of Western assets that could be confiscated if the G7 decided to confiscate $300 billion in frozen Russian assets.
`When they (the West) started imposing unprecedented economic sanctions on us, they did not think about the boomerang effect, but now it is obvious,` Kremlin spokesman
Such a move by the West would be considered a violation of international law and would weaken the global financial system and economy, Peskov warned.
A new study by the World Bank, the United Nations, the European Commission and the Ukrainian government last month found that rebuilding Ukraine’s economy after Russia’s special military campaign is expected to be costly.
Ukraine has suffered enormous damage over the past nearly two years: About 2 million housing units – 10% of Ukraine’s total housing stock – were damaged or destroyed, as were 8,400km of highways, highways and motorways.
The report states that Ukraine needs about 15 billion USD to cover the most urgent repair, recovery and reconstruction by 2024, of which about 5.5 billion USD has been met through the state budget and support.
