British Foreign Secretary Yvette Cooper arrives at a meeting of NATO foreign ministers in Brussels, Belgium, 3 December 2025. Photo: EPA / Olivier HosletThe UK government has said it is prepared to transfer £8 billion (€9.2 billion) worth of Russian assets that were frozen in the country in 2022 to Ukraine, The Times reported on Friday. The UK is also attempting to broker a deal with the EU and other Ukrainian allies including Canada, which would see them transfer a total of up to €115 billion to Kyiv. The EU, meanwhile, is hoping to agree on a “reparations loan” for Ukraine, which would see the loan to Kyiv of frozen Russian assets, most of which are currently held in the Belgian securities depository Euroclear, The Times continued. While sources told the Financial Times that the European Central Bank had refused to insure the “reparations loan”, the European Commission is considering using EU emergency powers to confiscate the assets and overcome the Belgian veto, The Times added.

Source: The Times December 05, 2025 15:36 UTC