British banks are pushing back against proposals to use frozen Russian state assets to finance support for Ukraine, warning the plan could expose lenders to serious legal and financial risks, according to the Financial Times.
Following the escalation of the Ukraine conflict in 2022, Western governments froze an estimated US$300 billion in Russian central bank assets. Of that total, around £8 billion is held by banks in the United Kingdom. European governments are now divided over whether those funds should be used as collateral for a so-called “reparations loan” to Kiev — a move Moscow has repeatedly denounced as theft.
Senior UK bankers have reportedly raised concerns that using the assets to guarantee loans would set an unprecedented legal precedent and invite retaliation from Russia through international courts. One banker told the FT the government had “never seized assets in this type of way,” warning that Russia would almost certainly pursue legal action.
Industry advisers also cautioned that the arrangement effectively assumes Ukraine will not repay the loan, leaving banks exposed to the risk of attempting to seize assets that Russia still claims as sovereign property. Several warned the proposal would amount to a “near certain default event,” with lenders potentially left unprotected if lawsuits follow.
UK officials have declined to confirm whether banks would receive any indemnity against legal claims. The plan is being coordinated with the European Union, which holds the majority of the frozen assets and is preparing to vote on measures to keep them immobilised indefinitely.
While some EU states support the initiative, others — including Belgium, France, Germany, Italy, Hungary and Slovakia — have objected, citing legal and financial stability concerns. Russia has vowed to retaliate against any attempt to expropriate its assets, calling the move illegal under international law.
Image credit: Resource Database
The only problem is the EU UK need the funds to keep the war going
By hook or by crook
Which is the only option they have left open available to them’
Either that or face the people for their gross ineptitude abysmal mismanagement and myriad of lies
NZ’s meager contributions don’t really cut the mustard nor rate a mention
Only to give a placeholder to be included in the “coalition of the willing”
A.k.a “coalition of the useful idiots”
It has been a very very long time since the worlds so called elected leaders have acted without instruction from the criminal Rothchilds organisation. Noted politicians are elected from the selection they chose.
Our children, particularly men and boys are the ones who have to murder, each other for resources. Mothers and sisters too who have their beloved men destroyed for these fat pigs.
If you take a countries belonging, sell it as your own to pay for a war to kill our people, you are no more than gangsters.
If government can no longer govern with the wishes of the vast majority, they become illegitimate criminals. They belong in prison, some belong at the end of a rope.
End the war and buy the minerals. Do not send our children to war to line your pockets.
Exactly
Is this the International Rules Based Order Winston Judith and cuxon kepp going on about? No rules, not international, and no order, just make up the rules as you go bro