SIR Keir Starmer has been told to step up efforts to unlock frozen Russian assets to help Ukraine — rather than just keeping them safe in “Putin’s bank”.
The PM wants European leaders to channel Moscow’s £250billion held across the continent to boost the embattled nation’s war chest.
GettyKeir Starmer has been told to step up efforts to unlock frozen Russian assets to help Ukraine — rather than just keeping them safe in ‘Putin’s bank’[/caption]
AFPThe PM wants European leaders to channel Moscow’s £250billion held across the continent to boost the embattled nation’s war chest[/caption]
The UK has pledged a £2.26billion loan to Ukraine’s war effort, underwritten by frozen Russian wealth.
But resistance to a wider raid has come from Eurozone countries concerned about international law and fearing it could spook further investment from other countries.
G7 nations have frozen about £250billion in Central Bank of Russia assets since the 2022 invasion.
Income generated is being used but the underlying assets are untouched.
And about £160billion is sitting in Belgium’s central security depository Euroclear.
Former Tory leader Sir Iain Duncan Smith said: “We are not Putin’s bank and Putin needs to pay for his appalling invasion. We need to move fast to seize these assets.”
Labour MP Joe Powell told the Sun on Sunday: “It’s well overdue for European leaders to be bold and take steps to seize the Russian sovereign assets to fund Ukraine.
“Russia has caused massive damage to Ukraine, but they will never pay up on their own accord.
“I’m proud Chancellor Rachel Reeves has led the way on using the interest from the Russian cash.
“I hope Keir Starmer can now convince the Germans and French to take the next step.”
Sir Iain added: “Given the fact the US is making life very difficult for Ukraine, it’s important we use the assets to the advantage of Ukraine.
“And we must absolutely not allow them to go back into negotiations with Russia.
“This is something Europe can do and doesn’t need permission from America.”
Shadow Foreign Secretary Priti Patel said: “More needs to be done to mobilise Russian assets lawfully.
“The PM and the EU need to keep striving to find solutions.”
It came as Foreign Secretary David Lammy suggested Britain could join a European defence fund.
He told the Financial Times: “We are open to those initiatives because this is about European security.”
Sir Keir’s approval rating has been boosted from -35 to -25 after he navigated tricky diplomatic waters amid the dust-up between US President Donald Trump and Ukraine’s leader Volodymyr Zelensky, an Opinium poll found.
And in another coup for the PM, Australia is now considering contributing to his “coalition of the willing” to help Ukraine.
The Trump administration has suspended delivery of all US military aid to Mr Zelensky.
But former Defence Secretary Sir Ben Wallace said it would not be the “end of the world” if the US left Nato.
He said Europe must provide its own security and defend Ukraine.
President Zelensky yesterday said he was fully committed to having a constructive dialogue with the US in Saudi Arabia next week to try to bring the war to an end.
AFPAbout £160billion is sitting in Belgium’s central security depository Euroclear, pictured[/caption] Published: [#item_custom_pubDate]
