Tensions between Moscow and London have escalated as Russia accused the United Kingdom of piracy following former British Prime Minister Rishi Sunak’s call to seize frozen Russian assets held in the West.
Russian Foreign Ministry Condemns UK’s Actions
Russian Foreign Ministry spokeswoman Maria Zakharova criticized Sunak’s statement, comparing it to historical acts of state-sanctioned piracy.
“This is one of England’s traditions, like tea drinking and horse racing. The fact is that piracy was once legalized in England—pirates were forbidden from attacking English ships but were encouraged to plunder others,” Zakharova wrote on Telegram.
Her comments were in response to Sunak’s post on X (formerly Twitter), where he demanded that the UK and its allies seize the estimated $300 billion in frozen Russian assets and use them to support Ukraine.
“Now is the time to seize [the Russian assets] and make Russia pay,” Sunak declared, warning that failure to do so could result in the funds being returned to Moscow to finance future conflicts.
The Push to Confiscate Russian Assets Gains Momentum
The UK has been a leading advocate of seizing rather than merely freezing Russian funds. Foreign Secretary David Lammy recently reiterated Britain’s stance, calling on European nations to take decisive action against Moscow.
Last month, the British government announced a $2.84 billion loan to Ukraine, backed by income generated from these frozen Russian assets. Moscow swiftly condemned the move, stating that such actions violate international law and warned that Britain would eventually have to return the money.
The Broader Western Effort to Target Russian Wealth
The European Parliament has urged EU nations and G7 allies to immediately confiscate all frozen Russian assets to sustain financial support for Kiev. However, opposition to this proposal is growing.
- Hungary has repeatedly threatened to veto the extension of EU sanctions against Russia, which must be renewed every six months.
- The United States has begun negotiations to broker a potential peace settlement in Ukraine, with President Donald Trump signaling that sanctions on Russia could be lifted if a deal is reached.
If sanctions are lifted or blocked by EU dissenters, the frozen Russian assets could potentially be returned to Moscow.
Moscow’s Response: ‘Legalized Theft’
The Kremlin has consistently denounced the asset freeze as outright theft. Russian officials have warned that any move to confiscate the funds permanently would lead to severe political and economic retaliation.
With the next EU sanctions renewal scheduled for July, the fate of these frozen assets remains uncertain. Whether the UK and its allies push forward with confiscation or face internal opposition could significantly impact the geopolitical balance surrounding the Ukraine conflict.
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