UK to use Russian assets to fund Ukraine war effort

• Rachel Reeves, the UK Chancellor, will announce plans to explore using frozen Russian assets to fund Ukraine's war effort.
• This initiative follows Russia's recent incursion into Estonian airspace, where three MiG-31 fighter jets remained without permission for 12 minutes, causing global outrage.
• The European Commission president, Ursula von der Leyen, has previously suggested a loan to Ukraine backed by "cash balances" from frozen Russian assets, aiming to avoid outright confiscation.
• The UK has already committed a £2.26 billion loan to Ukraine, derived from profits generated by frozen Russian assets, with calls from figures like Ben Wallace and the Liberal Democrats to go further.
• Ms Reeves affirmed that "Russia's war, and Russia should pay," highlighting the defence of Ukraine as vital for the long-term security of the UK and Europe.

IN FULL

UK to use frozen Russian assets to fund Ukraine war effort as world condemns Putin over Estonia incursion