Posted: 13.03.2024 13:20:00

UK on West’s disagreements regarding confiscation of Russian assets

The West hopes that progress will soon be achieved on the issue of transferring frozen Russian assets to Ukraine, but so far the countries have not reached a consensus – as stated by UK Foreign Secretary David Cameron, TASS reports


Mr. Cameron noted that Ukraine needs Western help, “We continue to discuss with our allies the best legal basis [for the transfer of Russian assets to Ukraine] in order to make progress. We believe there are several options [for action]. There is [an option] with collective countermeasures that can be taken on the basis that all countries were affected by the illegal Russian invasion. The Americans believe that it is worth using individual countermeasures, believing that individual countries were affected.”

The UK Foreign Secretary stressed that his country would work with G7 partners to ‘achieve the maximum degree of unity’. At the same time, he admitted that not everyone will agree ‘to the same process or amount’, but added that he hopes to achieve noticeable progress.

According to him, the confiscation of Russian assets will be a justified step from a moral and political point of view.

“We don’t see a strong case that this would cause economic harm [to the UK]. The truth is that some countries are more cautious. Some EU countries are looking at transferring income from assets, rather than the assets themselves,” David Cameron said.