London calls for ‘creative’ use of frozen Russian assets to aid Ukraine

David Cameron
David Cameron

Kyiv’s Western partners need to find “creative” ways of putting frozen Russian sovereign assets to use when it comes to helping Ukraine, UK Foreign Secretary David Cameron said on Aril 18, as reported by RFE/RL.

He expressed confidence that a solution would ultimately be found.

“It is important that we try to reach a consensus...,” said Cameron.

“This is what we are discussing here. I have no doubt that we will find a way, but we need to be creative. We must be flexible.”

Read also: Legal risks loom over proposal to transfer frozen Russian assets to Ukraine, warns ECB chief

On Feb. 17, the United States announced that it would transfer confiscated Russian assets to Ukraine through Estonia.

On March 19, Josep Borrell, EU’s High Representative for Foreign Affairs and Security Policy, suggested using 90% of the profits from frozen Russian assets in Europe to purchase weapons for Ukraine through the European Peace Facility fund.

On March 22, the head of the European Commission Ursula von der Leyen stated that Ukraine could receive the first billion euros of profit from frozen Russian assets as early as July 2024.

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