Russia: Freezing of Assets

(asked on 26th November 2024) - View Source

Question to the Foreign, Commonwealth & Development Office:

To ask His Majesty's Government what assessment they have made of the remarks made by the then Foreign Secretary in December 2023 that there is a “legal route” to use frozen Russian state assets to finance the rebuilding of Ukraine; whether they intend to authorise such use; and if so, when.


Answered by
Baroness Chapman of Darlington Portrait
Baroness Chapman of Darlington
Parliamentary Under-Secretary (Foreign, Commonwealth and Development Office)
This question was answered on 6th December 2024

This Government is clear that Russia must be held responsible for its illegal war. That includes its obligations under international law to pay for the damage it has caused in Ukraine. Working with allies, we continue to pursue all possible lawful avenues by which Russia is made to meet those obligations. Our agreement with G7 partners to provide approximately $50 billion in additional funding to Ukraine, repaid by the profits generated on sanctioned Russian sovereign assets, is an important step towards ensuring Russia pays. Our focus is on delivering this commitment, including the UK's £2.26 billion contribution, as soon as possible.

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