UK to Not Lift Sanctions against Russia until Ukraine Is Compensated

The United Kingdom has introduced new legislation that will allow it to keep sanctions against Russia until Moscow compensates Ukraine.

According to the UK Secretary of State for Foreign press service, the announcement on the new legislation was made by Foreign Secretary James Cleverly.

He stated that the new legilation will allow the British government to maintain sanctions against Russia until compensation is paid to Ukraine and introduces a new pathway for frozen Russian assets that can be donated towards Ukraine's recovery.

These new measures were announced ahead of a major conference on Ukraine's recovery in the United Kingdom this week.

This also comes following London's preparions to pass a law that will require individuals who own assets in the UK on behalf of the Central Bank of Russia (CBR), the Ministry of Finance of Russia (Minfin), or the Russian National Wealth Fund (FNB) to disclose them to the UK Treasury.

"As Ukraine continues to defend itself against Russia's invasion, the terrible impacts of Putin's war are clear. Ukraine's reconstruction needs are – and will be – immense," said James Cleverly.

"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," he added.

These new measures mark a significant reinforcement of the UK's sanctions approach towards Russia as Putin and his associates continue their unlawful war, while Ukraine moves into a counteroffensive.

"We will support Ukraine as much as needed for recovery after Russian aggression and for creating the foundation for the nation's prosperity," said UK Finance Minister Jeremy Hunt.

As previously reported, Ukrainian President Volodymyr Zelenskyy had a phone conversation with the Prime Minister of the United Kingdom, Rishi Sunak. Zelenskyy emphasised the need to intensify sanctions pressure on Russia.