He plans to use Russian frozen money to support Ukraine

Bùi Đức |

The new $2.84 billion loan from the UK to Ukraine is expected to be repaid with profits from Russia's frozen assets despite Moscow's warnings.

RT reported that on January 1, British Prime Minister Keir Starmer emphasized London's "unwavering support" for Kiev until it achieves its ultimate goal, after a tense meeting between Ukrainian President Volodymyr Zelensky and US President Donald Trump on February 28.

The meeting between Trump and his Ukrainian counterpart on February 28 at the White House, which was intended to finalize a mineral deal, turned into a heated debate as Zelensky steadfastly demanded that Washington support Kiev more.

Speaking at the meeting, Mr. Trump accused Mr. Zelensky of not saying thank you for Washington's support and not being ready to make the necessary grants to end the conflict. Trump argues that he does not want Ukraine to sign a power as he describes the US just to strengthen defense capabilities rather than bring peace. We are seeking peace, President Trump affirmed.

In contrast, British Prime Minister Starmer, when receiving President Zelensky on his visit to London on January 1, pledged to fully support Ukraine in the journey ahead. According to the British Prime Minister, achieving a just and sustainable peace is necessary to ensure the security and sovereignty of Kiev in the future.

Tong thong Donald Trump va Tong thong Volodymyr Zelensky tranh cai nay lua o Nha Trang ngay 28.2.2025. Anh: Xinhua
President Donald Trump and President Volodymyr Zelensky have a heated debate at the White House on February 28, 2025. Photo: Xinhua

On 1 March, the UK announced a new $2.84 billion loan to enhance Kiev's military capabilities, in the hope that the money would be repaid with profits from frozen Russian assets. Mr Zelensky then pledged to Mr Starmer that the money would be used for arms production in Ukraine.

According to Reuters, the UK is one of the countries that are most enthusiastic supporters of Ukraine. As of October 2024, London's support to Kiev has reached $16.61 billion, including military and financial aid.

According to Politico, the frozen Russian asset is worth about 200 billion USD, much of which has been held in Brussels ( Belgium) since the conflict in Ukraine broke out in February 2022.

However, this amount of money has raised many conflicting views within the EU. Several countries, including Poland, the Czech Republic, the Baltic and Nordic countries, have backed Moscow's seizure and transfer to Kiev to support the reconstruction process later.

Meanwhile, France, Germany, Italy and Spain believe that those assets should be kept as leverage in peace negotiations.

Russia has repeatedly condemned the freezing of its assets and warned that the seizure of the money would amount to embezzlement, saying it would set a dangerous precedent.

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