London Daily

Focus on the big picture.
Saturday, May 10, 2025

UK Freezes £25 Billion in Russian Assets Amid Ongoing Ukraine Conflict

UK Freezes £25 Billion in Russian Assets Amid Ongoing Ukraine Conflict

The UK Treasury reports on the impact of sanctions against Russian individuals and entities since February 2022.
The UK Government has frozen approximately £25 billion worth of Russian assets since the onset of the Ukraine conflict, according to newly released figures by the Treasury.

This total reflects all sanctions enacted by the UK since Russia's invasion of Ukraine in February 2022. As of March 2024, the UK has sanctioned 2,001 individuals and entities under this regime.

Treasury Minister Emma Hardy emphasized the significance of these sanctions, stating that the UK, in collaboration with its allies, has deprived Russia of over $400 billion—equivalent to four years of military spending for the nation.

The Treasury's statement highlights ongoing efforts to enforce financial sanctions in response to the conflict.

The Office of Financial Sanctions Implementation (OFSI) produced the annual review that documents these statistics and outlines steps taken to enhance compliance with UK financial sanctions.

The report notes an expansion of sanctions enforcement mechanisms aimed at minimizing illicit financial activities.

While individuals associated with Vladimir Putin's administration have been barred from accessing their frozen assets, no measures have yet been taken to seize these assets outright.

Discussions surrounding the potential seizure of funds have surfaced, focusing on their possible use for military aid to Ukraine and for the reconstruction of the nation post-conflict.

Political leaders in the UK, such as Liberal Democrat leader Sir Ed Davey, have called for emergency legislation to facilitate the seizure of these frozen assets to support Ukraine amid the ongoing conflict.

He remarked on the urgency of addressing the humanitarian crisis resulting from the invasion and criticized any inaction regarding the use of these financial resources.

Additionally, Labour MP Phil Brickell has advocated for a more robust approach towards enforcing sanctions, urging government officials to pursue any violations rigorously.

As a member of the All-Party Parliamentary Group on Anti-Corruption and Responsible Tax and the Commons foreign affairs committee, he underscored the critical role of sanctions in the UK’s foreign policy initiatives, particularly in responding to effectively address human rights abuses and naval aggression.

The UK Government's financial measures reflect a sustained strategy to exert pressure on Russia and support Ukraine during the ongoing conflict.
Newsletter

Related Articles

0:00
0:00
Close
India-Pakistan conflict may be first test for Chinese military tech
Bill Gates Announces Plan to Wind Down Philanthropic Foundation and Disperse Wealth
Historic Papal Conclave Set to Commence in Rome
Huge Copper, Gold, and Silver Discovery in Argentina and Chile — But the Profits Go Abroad
Prince Harry is pleading for reconciliation — but the royals are just as sick of his victimhood as everyone else
The Road to Freedom: She Protested Putin, Escaped House Arrest, and Survived a 2,800-Kilometer Journey
OpenAI's Flip-Flop: No Longer Going Commercial, Back to Nonprofit, After Musk Lawsuit and Backlash
“Trump Supporter” Aims to Bring a MAGA-Style Shift to Romania
First From China: Zhao Xintong Wins the Snooker World Championship
Nvidia Faces Billion-Dollar Losses – Warns: China Is on Its Way to Becoming an AI Superpower
Trump Rules Out Third Term, Names JD Vance and Marco Rubio as Potential Successors
Mexico Says ‘No’ to U.S. Troops: President Sheinbaum Rejects Trump’s Offer to Fight Cartels
Nigel Farage’s Reform UK Storms the Map, Wrecking the Two-Party Monopoly
DOGE: Reimagining Government Operations with AI
Common Sense Returns to Britain's Legal System: UK Supreme Court Declares a Woman Is… a Woman
Beijing Says U.S. Is ‘Reaching Out’ for Tariff Talks Amid Soaring Trade Tensions
U.K. Court Rejects Prince Harry’s Final Appeal Over Police Security
Prince Harry’s Heartfelt Outburst Rocks the Royal Family
Trump Shares AI-Generated Image of Himself as… Pope, Prompting Outrage Reaction
Transgender Swimmer Secures Five Gold Medals at U.S. Masters Championship
Prince Harry: “I Want Reconciliation with My Family”
Germany's Alternative für Deutschland (AfD) party has now been officially labeled “right-wing extremist” by the federal office for the so-called “protection of the constitution.”
Amazon Launches Satellite Internet Service Amidst Competition with SpaceX
Transformative Changes in Women's Wrestling: The Rise of WWE Superstars
The Rush to the White Gold: Global Investment Surge in Natural Hydrogen Exploration
This is a day in Spain without electricity and internet
Reform UK Surprises in British Elections, Challenging Traditional Two-Party System
180-Year-Old Christian University in South Carolina Announces Closure Due to Unmet $6 Million Fundraising Goal
Brazilian Woman Jailed for Fourteen Years for Writing “You Lost, Idiot” on Statue During Protest
Trump Administration Removes National Security Adviser Mike Waltz Amid Signal Chat Controversy
Dutch Politician Eva Vlaardingerbroek Receives Spyware Threat Alert from Apple
Paramount Board Considers Settlement in Trump’s $20 Billion Lawsuit Over "60 Minutes" Interview
U.S. Economy Shrink in Trump’s First Quarter as Tariff Policy Raises Questions
Deadline Looms for RTS Meter Replacement: Hundreds of Thousands at Risk of Heating Disruption
Sweden Grapples with Deadly Gun Violence: Suspect Arrested After Three Young Men Killed in Uppsala Hair Salon
Walz Reveals Why Harris Chose Him as Her Running Mate and Reflects on Democratic Losses
Spain Restores Power After Unprecedented Nationwide Blackout
Carney Secures Liberal Mandate in Canada’s Federal Election
Death Penalty Sought as Luigi Manion Pleads Not Guilty in CEO Murder Case
President Trump contacts Jeff Bezos after reports of Amazon considering listing tariff surcharges; company clarifies no such plan for main platform
Spain and Portugal Recover from Massive Blackout
Liverpool Clinches Record-Equalling 20th English League Title Under Arne Slot
Singapore Politicians Warn Against Foreign Interference in Election
Driver Ploughs into Vancouver Festival Crowd, Killing Nine
Depression, Fear of Defamation, and a Tragic End: New Details on Virginia Giuffre’s Suicide
“Sharia for UK, Allah Akbar!”
Massive Explosion at Iran's Bandar Abbas Port Linked to Suspicious Chemical Shipments
Incident Reflection: A Harsh Reality Check
Pakistani migrants to Danish man: “ “We have 5 children while you have 1 or 2. In 10 years, there will be more Pakistanis than Danes here.“
Clashes Erupt in London as Tensions Rise Between Indian and Pakistani Communities
×