UK claims to freeze $350 billion of Vladimir Putin’s ‘war chest’

“Coordinated sanctions are pushing Russia’s economy back to the Soviet era,” Truss said.

Advertisement

During a visit to Warsaw on Tuesday, British Foreign Secretary Liz Truss announced the freezing of $350 billion (321 billion euros) in assets from Russian President Vladimir Putin’s ‘war chest.’

“Our sanctions have had a crippling effect on those who feed and fund Putin’s war machine thus far. We’ll announce this week that we’ve frozen over $350 billion of Putin’s war chest,” said Truss. She claimed that the Russian government now had “unavailable over 60% of the regime’s $604 billion in foreign currency reserves.”

“Coordinated sanctions are pushing Russia’s economy back to the Soviet era,” Truss said. She demanded a ban on Russian ships docking in Western ports, as well as “a clear timetable for eliminating Russian oil, coal, and gas imports.” She also urged the UK’s NATO and G7 allies to impose restrictions on “industries that are filling Putin’s war chest, like gold,” as she put it.

Truss described the scenes in Bucha, a town northwest of Kyiv, where a number of bodies dressed in civilian clothing were discovered after Russian forces withdrew, as “shocking.” “These are heinous crimes that we thought had passed us by in the twentieth century. Those who are responsible will be held accountable for their actions,” she expressed herself.