The UK and the USA Search for Ways to Help Ukraine Financially

by Meifan Honcharuk
Sunday, October 23, 2023
The UK and the USA Search for Ways to Help Ukraine Financially

During the meeting of the IMF and the WB in Morocco, parties discussed ways to transfer frozen Russian assets for the benefit of Ukraine

The United States and Britain try to stop the flow of money that Russia possesses or receives through 3rd means and thereafter use it in the war against Ukraine. The US minister of finances, Janet Yellen, and British counterpart Jeremy Hunt discussed joint actions to impose arrests on Russian sovereign assets and their further legal use for the military needs of the Armed Forces of Ukraine.

So far, the G7 initiative has already calculated $280 billion of frozen Russian assets, and work continues. In the best-case scenario, these funds will then be transferred to Ukraine: for the restoration and defence of the country. The Bank of England, the European Union and the United States are already exploring the possibility of performing the plan. Additionally, parties work on strengthening sanctions against the aggressor country and monitoring their implementation. Further, Janet Yellen and Jeremy Hunt emphasise the need to continue the collective support of Ukraine in the military and economic fields.

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