London Signals Support for EU Effort to Tap Frozen Russian Assets for Ukraine

The United Kingdom is prepared to join a European Union initiative that would channel revenue from frozen Russian assets toward supporting Ukraine, European Pravda reported on November 25.

British Prime Minister Keir Starmer outlined London’s position during an online session of the “coalition of the resolute”, stressing that the moment requires urgent action.

“I know that Ursula’s and António’s teams are working almost around the clock on the question of financing,” Starmer said, referring to European Commission President Ursula von der Leyen and European Council President António Costa. “And we’re grateful for everything they’re putting into this. I know EU leaders will look at this over the coming weeks, and progress is already being made.”

Starmer said the priority is ensuring Ukraine receives support now, even as long-term diplomatic efforts continue.

“Even while working toward peace, we cannot weaken our support. Ukraine must be able to keep fighting,” he said.

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The British prime minister added that sustaining Ukraine requires “urgent decisions on issues like funding and capabilities.”

“We in the United Kingdom are ready to work with the EU on providing financial backing, based on the value of immobilized [Russian] assets,” he said. “This is the best way to show Putin that he needs to negotiate — not try to wait things out.”

Earlier, reports emerged that Canada, the United Kingdom, and Japan were reportedly ready to follow the European Union’s lead in providing Ukraine with so-called “reparations loans” backed by frozen Russian assets, with Japan also considering participation.

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