Britain says it has frozen $32 billion in Russian assets since the start of the Ukraine war
The British government announced on Friday that it has frozen more than 25 billion pounds ($32 billion) of Russian assets since the start of the war in Ukraine three years ago.
The UK Treasury also reported that it imposed sanctions on 2,001 entities and individuals between the start of the Russian invasion of Ukraine in February 2022 and March 2024.
“The UK has frozen £25 billion of Russian assets, and working with our allies, we have deprived Russia of more than $400 billion, the equivalent of four years of Russian military spending,” said Emma Reynolds, Economic Secretary at the Treasury.
“We’ll continue to aggressively enforce our financial sanctions as part of our broader response to Russia’s brutal invasion of Ukraine,” the statement added.
Last February, on the third anniversary of the start of the conflict, Britain unveiled sanctions against more than 100 individuals it said were providing Russian President Vladimir Putin with aid in his war in Ukraine.
While sanctions have prevented individuals associated with Putin and his government from accessing funds and assets, Britain and other Western countries have yet to reach an agreement on how to dispose of these assets.
Britain hosted a group of military leaders on Thursday to discuss assistance in securing any agreement to end the fighting in Ukraine.
British Prime Minister Keir Starmer is leading efforts alongside French President Emmanuel Macron to bolster support for Ukraine in the event of a ceasefire, after US President Donald Trump opened direct negotiations with Russia last month.
