Britain could use frozen Russian assets to directly fund Ukraine’s fightback against Vladimir Putin’s invasion, Ed Miliband has suggested. The Foreign Secretary claimed the EU and Britain could revisit plans to use the full value of frozen Russian assets, rather than just the profits and interest accrued on them.
UK sanctions have frozen more than £25 billion of Russian assets since Moscow launched its full-scale invasion. Speaking at the Warsaw Security Forum, Mr Miliband claimed Russia was not winning the war, but that Vladimir Putin’s advisers were afraid to tell him the truth.
Return to the issue
He said: “Europe has big decisions to make, including on Russian sovereign assets. I think we need to return to this issue.
“Britain is willing to do this alongside the European Union, because we know that every wrong message that is sent to President Putin is a message that sets back our security and sets back the Ukrainian cause, and we need to send the right messages.”
The senior minister, who last week visited Ukraine, praised the resolve of its people, adding that it had shocked Putin. He said: “It is a resolve which four and a half years ago Putin thought would not be there; he thought our resolve wouldn't be there either. We have proved him wrong on both of these fronts.
Putin not winning the war
“I do think, by the way, in our narrative, we should talk about the barbarity of Putin. We are right to do so. We should also talk about the fact, as I did at the UN Security Council, he is not winning this war. And the truth is Lavrov and others don't want to tell him the truth: he is not winning this war, and that is very important.”
It came as Mr Miliband urged Western leaders to back Volodymyr Zelensky after Donald Trump’s latest attack on the Ukrainian leader. European leaders are scrambling after Mr Trump unveiled controversial plans to import Russian diesel.
Mr Miliband said: “Last week in Kyiv, I met children who have only known winters marked by strikes, blackouts and the freezing cold.
“We cannot allow Russian strikes to dictate whether the Ukrainian people can keep their lights on, or turn their heating on, for another winter. And Russia is not stopping at Ukraine.
“Europe’s adversaries are testing our defences, targeting our infrastructure through cyber attacks and sabotage, and attempting to weaken our resolve for Ukraine. Those who seek to weaken our democracies thrive on division, so our answer must be unity. We need to back President Zelensky and support Ukraine with an energy ceasefire.”
