Financial Times: UK won't use frozen Russian assets for aid to Ukraine

The British authorities do not plan to use frozen Russian assets to provide aid to Ukraine, as the EU has failed to agree on a similar initiative, the Financial Times reports.

The funds in question involve over $10 billion kept with the UK banks. The original plan was to do so jointly with the EU, Australia, and Canada.

London will reportedly continue to work with the EU and the G7 to secure financing for Ukraine.