Russian media quoted Vyacheslav Volodin, the Speaker of the Russian State Duma as saying “The transfer of Russia's assets by Britain to Ukraine is a serious breach of international law. They will ultimately have to return to Russia what they are now so generously giving away”. Earlier, Ukrainian Prime Minister Denis Shmygal announced via his Telegram channel that Ukraine had received 752 million pounds (~ $ 971.3 million dollars) from Britain, secured through proceeds from frozen Russian assets.
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"This action will permanently undermine confidence in Britain's financial system, as it undermines the principle of property inviolability, which is the foundation of the entire global financial system" and Russia now "has every reason to respond in a similar way and confiscate British properties" located in our country”, said Volodin.
So far, around $50 billion in assistance has been given to Ukraine using the accumulating interest on Russia’s frozen assets by the G7 group of nations. The UK is the first country of G7 Group to start touch on Russian assets, instead of on their interest only.
Under the call from Ukraine President Zelenskky, the EU’s Brussels Summit on 6th March exchanged debate on whether secure some $227 billion in frozen Russian assets that have been held in Europe’s financial system. The frozen assets include those belonging to the Bank of Russia, in addition to those held by Russian individuals and entities in sanctions lists. The summit reportedly didn’t reach a final resolution on this matter.
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