The Russian embassy in London criticized the U.K.'s plan to transfer more than two billion pounds ($2.5 billion) to Ukraine using frozen Russian assets, calling it a "fraudulent scheme."
In October, the U.K. announced it would provide Ukraine with a 2.26 billion-pound loan as part of a broader package from the Group of Seven (G7) nations. The funds, backed by frozen Russian central bank assets, are intended to support Ukraine’s military, purchase weapons, and rebuild damaged infrastructure.
The loans were agreed upon in July by G7 leaders—comprising the U.K., Canada, France, Germany, Italy, Japan, and the United States—along with senior European Union officials. The majority of the frozen Russian assets are held in EU countries.
"We are closely following UK authorities’ efforts aimed at implementing a fraudulent scheme of expropriating incomes from Russian state assets 'frozen' in the EU," the Russian embassy said on social media.
U.K.'s Defense Minister John Healey confirmed the funds would be dedicated solely to Ukraine’s military. He noted that the money could help Ukraine develop drones with ranges surpassing some long-range missiles.
Russia’s embassy described the plan as illegitimate. Last week, Russia’s Foreign Ministry accused the United States of "robbery" over its transfer of frozen Russian assets as part of the G7’s $50 billion loan package for Ukraine.
Dmytro Basmat
Independent journalism needs a community —
not a paywall.
We’re working hard to show the world the truth of Russia’s brutal war — and we’re keeping it free for everyone, because reliable information should be available to all.
Our goal: reach 20,000 members to prove independent journalism can survive without paywalls, billionaires, or compromise. Will you help us do it?
(Updated: )
