The UK Transfers Over $1 Billion from Frozen Russian Assets to Ukraine

The United Kingdom has sent over $1 billion to Ukraine generated from the use of frozen Russian assets. This was announced by UK Defense Secretary John Healey, as reported by RIA Novosti.

The head of Ukraine's Ministry of Defense noted that this funding has enabled the supply of hundreds of thousands of artillery munitions and hundreds of anti-aircraft missiles to Ukraine.

Previously, Politico reported that the European Union is discussing plans to convert frozen Russian assets in the West into higher-risk investments to derive greater benefits and direct the generated funds to Ukraine.

Currently, over €200 billion in Russian assets are frozen across Europe, with most of these located in the Belgian Euroclear depository. The funds have not yet been seized, but Brussels is transferring profits from these assets to Kyiv. According to the German newspaper Welt, Ukraine has already received €10 billion.