UK to Return Russian Funds It Is "so generously giving away" – Moscow
State Duma Speaker Vyacheslav Volodin has criticized the UK for moving proceeds from Russia’s sovereign assets to Kiev.. source:TROIB RTS
TroibNews 
Transferring Russia’s sovereign assets to Kiev constitutes a significant breach of international law, according to State Duma Speaker Vyacheslav Volodin.
Volodin criticized the UK’s act of transferring proceeds from Russia’s frozen central bank funds to Ukraine, calling it a clear violation of international legal standards.
On Friday, Ukrainian Prime Minister Denis Shmigal announced that Ukraine had received an initial payment of around $1 billion from the UK, derived from these Russian assets. He indicated that the funds would be utilized for “strengthening” Ukraine’s defense and expressed his hope that all frozen Russian assets would eventually be “confiscated and transferred” to Kiev.
In response, Volodin told reporters that Britain “will have to give back to Russia what they are now so generously giving away,” and emphasized that Moscow has “every reason to respond in kind.”
He also cautioned that London’s actions could “undermine confidence” in its financial system, highlighting that they “violate the principle of property inviolability, a cornerstone of the global financial system.”
Following the escalation of the Ukraine conflict in 2022, Western nations froze approximately $300 billion in Russian central bank assets. Over $200 billion of this amount is reportedly held at the Brussels-based clearinghouse Euroclear, with around $30 billion located in the UK.
The frozen assets have already accrued billions in interest, and Euroclear had transferred more than $1 billion directly to Ukraine last July. Kiev has been urging its Western allies to expropriate these assets to support its military and reconstruction needs.
However, the West appears divided regarding the future of the frozen assets. Several EU countries are hesitant to utilize the reserves directly, choosing instead to access the interest generated by them. Concerns have been raised that seizing the assets could harm the Western financial system and diminish trust in the euro. The International Monetary Fund has also warned that confiscating the funds without a solid legal foundation could undermine global confidence in Western financial institutions.
Meanwhile, the Kremlin has continuously condemned the asset freeze as “theft” and threatened legal action against those involved in the seizure of these assets.
Sophie Wagner for TROIB News
Volodin criticized the UK’s act of transferring proceeds from Russia’s frozen central bank funds to Ukraine, calling it a clear violation of international legal standards.
On Friday, Ukrainian Prime Minister Denis Shmigal announced that Ukraine had received an initial payment of around $1 billion from the UK, derived from these Russian assets. He indicated that the funds would be utilized for “strengthening” Ukraine’s defense and expressed his hope that all frozen Russian assets would eventually be “confiscated and transferred” to Kiev.
In response, Volodin told reporters that Britain “will have to give back to Russia what they are now so generously giving away,” and emphasized that Moscow has “every reason to respond in kind.”
He also cautioned that London’s actions could “undermine confidence” in its financial system, highlighting that they “violate the principle of property inviolability, a cornerstone of the global financial system.”
Following the escalation of the Ukraine conflict in 2022, Western nations froze approximately $300 billion in Russian central bank assets. Over $200 billion of this amount is reportedly held at the Brussels-based clearinghouse Euroclear, with around $30 billion located in the UK.
The frozen assets have already accrued billions in interest, and Euroclear had transferred more than $1 billion directly to Ukraine last July. Kiev has been urging its Western allies to expropriate these assets to support its military and reconstruction needs.
However, the West appears divided regarding the future of the frozen assets. Several EU countries are hesitant to utilize the reserves directly, choosing instead to access the interest generated by them. Concerns have been raised that seizing the assets could harm the Western financial system and diminish trust in the euro. The International Monetary Fund has also warned that confiscating the funds without a solid legal foundation could undermine global confidence in Western financial institutions.
Meanwhile, the Kremlin has continuously condemned the asset freeze as “theft” and threatened legal action against those involved in the seizure of these assets.
Sophie Wagner for TROIB News
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