London, United Kingdom – In a significant move, the British government unveiled new legislation on Monday that empowers it to continue imposing sanctions on Russia until Moscow fulfills its obligation to compensate Ukraine. The legislation, designed to amend the purposes of the existing Russia sanctions, enables the UK to employ sanctions as a means to incentivize Russia’s payment of compensation.
As per the legislation, the sanctions will be utilized to promote the announcement of a new route by Moscow for transferring frozen assets to aid Ukraine’s reconstruction efforts. The dire consequences of Russia’s invasion of Ukraine have been evident, as the nation grapples with the aftermath of Putin’s war.
Emphasizing the monumental task ahead in reconstructing Ukraine, British Foreign Minister James Cleverly stated, “Ukraine’s reconstruction needs are, and will be immense. Through our new measures today, we’re strengthening the UK’s sanctions approach, affirming that the UK is prepared to use sanctions to ensure Russia pays to repair the country it has so recklessly attacked.”
Since the invasion occurred last year, the United Kingdom has already frozen over £18 billion (approximately $23 billion US dollars) in assets and imposed sanctions on more than 1,550 Russian individuals. Notable figures affected by these measures include Roman Abramovich, the former owner of Chelsea Football Club.
Furthermore, the British government announced that Russian individuals subjected to sanctions, but who express support for Ukraine, will now have the opportunity to contribute their frozen funds to aid Ukrainian reconstruction. This voluntary process allows sanctioned individuals to apply for the release of funds specifically earmarked for supporting Ukraine’s recovery and reconstruction.
In a statement, the government clarified, “There will be no coercion of individuals to encourage them to transfer funds, nor any offer of sanctions relief in return for making a donation.”
With the introduction of this legislation, the United Kingdom sends a strong message to Russia, reaffirming its commitment to the cause of Ukraine’s recovery and signaling its determination to leverage sanctions until compensation is paid.
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