Why the West Must Take Control of Russia’s Central Bank Assets

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Ukraine has defied the odds and beaten the expectations, but it still needs us now more than ever - BULENT KILIC/AFP © Provided by The Telegraph

The shadow of irredentist Russia looms large over Europe, especially in the aftermath of Vladimir Putin’s invasion of Ukraine two years ago. This period has been marked by loss of lives and the disruption of futures, presenting the most perilous era in European history since World War II.

The recent withdrawal from Avdiivka is a stark reminder of our collective failure to provide sufficient support to Ukraine. Countless lives have been lost, and a community has been displaced, underscoring the urgent need for action. By empowering Ukraine to not just survive but prevail, we can alter the trajectory of the coming decades and deter autocratic regimes seeking to expand their influence globally.


Ukraine’s remarkable resilience and determination have been on full display as its people, from farmers to teachers, bravely confront one of the world’s most formidable military forces. Despite facing overwhelming odds, they have liberated key cities like Kharkiv and Kherson, defended Odessa, and even established a corridor in the Black Sea without a navy of their own.

In September alone, Ukraine dealt a significant blow to Russian military assets, regained control of strategic oil and gas drilling rigs, and successfully neutralized numerous drones and anti-air missile installations. However, despite these remarkable achievements, some politicians overseas have hesitated to fully support Ukraine, calling for more progress before offering assistance.

This stance is both perplexing and unjust. Ukraine has already demonstrated its capability and resolve; what it needs now is unwavering support to continue its progress. Instead of demanding more from Ukraine, we should provide the resources and assistance necessary for its continued success.

The bravery and resilience of Ukrainians in their fight for freedom against tyranny is undeniable. However, the harsh reality is that this struggle comes at a grave cost, with Ukrainian blood being shed daily. Unlike in movies, where the good guys always triumph, war is a brutal and unpredictable reality where victory is never guaranteed. The ongoing conflict in Ukraine serves as a stark reminder of the human toll and the unpredictable nature of armed conflict.

Putin cannot be allowed to rewrite history

The threat posed by Putin cannot be underestimated, given his track record of violence, oppression, and aggression. From the murder of political opponents to conducting chemical weapons attacks and supporting rogue states like Iran and North Korea, Putin’s actions have caused widespread suffering and instability. Urgent action is needed to hold Russia accountable, including securing an international agreement to seize Russian central bank assets to fund Ukraine’s defense and reconstruction. Additionally, establishing a Special Tribunal on the Crime of Aggression is crucial to ensuring Putin and his allies face justice and cannot evade accountability for their actions.


After two years of grueling conflict, Ukraine has defied expectations and emerged victorious against daunting odds. The United Kingdom’s steadfast support for Ukraine fills me with pride. We have stood as a beacon of global solidarity against tyranny, answering the call to defend democracy and freedom in Ukraine and Europe. Our provision of effective weaponry and the signing of a Security Partnership underscore our unwavering commitment to this cause.

As I stand in Kyiv this weekend, I am honored to reaffirm the British Parliament’s unwavering support for our Ukrainian allies. This demonstration of solidarity highlights our commitment to a future built on individual freedoms and democracy.

Europe’s support cannot be overstated

The persistent threat posed by Putin’s Russia is being underestimated, emphasizing the need for lasting peace and security measures beyond Ukraine’s immediate resistance. Victory hinges on restraining Russia from aggressive actions, both domestically and internationally, and fostering a united front against terrorism and tyranny.

Europe’s contribution to this crisis is paramount, and the UK must maintain its leadership role in promoting peace and stability. However, the US also plays a crucial part in upholding democracy and must avoid isolationist tendencies.

In echoing Churchill’s call for unity during World War II, we must support Ukraine with unwavering resolve. Providing the necessary tools and support will ensure their success in securing democracy and peace in Europe.

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