European leaders are under pressure to step up support for Ukraine, with some urging them to seize the $218 billion in frozen Russian assets held by the EU and other countries. The move could unlock billions of dollars in funding for Ukraine’s defense efforts, but it also comes with risks and potential legal complications. World leaders, including former UK Prime Minister Rishi Sunak, are calling on Europe to take action, while others warn that it should be a last resort due to the impact it could have on global economies. The EU holds the majority of the frozen Russian funds, which were earmarked for rebuilding Ukraine in peacetime. A coalition of campaign groups and UK MPs is pushing for the seizure of £25 billion in Russian state assets now frozen in the UK financial system. While there are concerns about retaliation from Russia, some argue that passing the cash to Ukraine would send a strong psychological blow to the country’s economy and labor market. The question remains whether Western leaders will take the leap and seize the assets for Ukraine.
Source: https://www.yahoo.com/news/europe-mobilizes-behind-ukraine-sitting-070101511.html