Britain announced its readiness to transfer the assets of the Central Bank of the Russian Federation to Kyiv

Great Britain is ready to transfer to Kyiv all the frozen assets of the Russian Central Bank in the form of a loan, taking into account the fact that after the end of the war, Russia will have to pay reparations. Such a statement was made by the Minister of Foreign Affairs of Great Britain, David Cameron.

“There is an opportunity to use something like a syndicated loan or a debt obligation, which essentially uses frozen Russian assets as collateral, to give this money to the Ukrainians, knowing that we will return it when Russia pays reparations,” Cameron’s words are reported by The Guardian .

According to this plan, after the payment of reparations, the loan will be returned, and Russia will get access to its assets.

This proposal is more radical than what was previously discussed in the European Union. The EC proposes to transfer to Kyiv only the profit from the frozen assets of the Central Bank. The annual profit from these assets is estimated at 4 billion dollars.

As noted by The Guardian, Cameron is the first to speak in such detail about this proposal. According to journalists, this indicates support from the US, but not the EU.

For more than a year, the G7 countries have been debating whether it is possible to confiscate the frozen assets of the Russian Central Bank without undermining confidence in the international financial system.

As The Guardian writes, assets of the Central Bank of Russia in the amount of about 25 billion pounds sterling (32 billion dollars) were frozen in Great Britain, but this was not officially announced.

• In Western countries, about 300 billion dollars of reserves of the Central Bank of Russia are frozen. In 2023, the international depository Euroclear earned 4.4 billion euros by investing in Russian assets frozen by the decision of the European Union. Moscow cannot use either the assets or the interest earned.