Russian embassy in London called Britain’s plan to allocate over £2 billion from frozen Russian assets to Ukraine a “fraudulent scheme”

The Russian embassy in London characterized Britain’s intention to transfer over 2 billion pounds ($2.5 billion) to Ukraine, funded by frozen Russian assets, as a “fraudulent scheme” on Saturday. In October, Britain announced it would provide Ukraine with a loan of 2.26 billion pounds, which is part of a larger financial package from the Group of Seven nations, also supported by frozen Russian central bank assets, aimed at purchasing military equipment and repairing damaged infrastructure.

This loan agreement was established in July by the leaders of the G7—comprising Britain, Canada, France, Germany, Italy, Japan, and the U.S.—along with senior officials from the European Union, where the majority of the frozen Russian assets due to the conflict are located.

The Russian embassy stated on social media, “We are closely monitoring the UK authorities’ attempts to implement a fraudulent scheme to appropriate income from Russian state assets ‘frozen’ in the EU.” British Defence Minister John Healey indicated that the funds would be exclusively allocated for Ukraine’s military purposes, potentially aiding in the development of drones with extended range capabilities.

The embassy further remarked, “The intricate legislative maneuvers do not disguise the illegitimate nature of this arrangement.” Last week, Russia’s Foreign Ministry referred to the U.S. contribution to Ukraine from the G7’s $50 billion loan package as “simply robbery.”