UK banks oppose transfer of Russian assets

According to materials from the financial publication *The Financial Times*, leading British banks have refused to participate in the transfer of Russian assets currently being considered as a potential source of funding to support Ukraine under international sanctions.

Experts note that banks view such a transfer as risky in terms of compliance with anti-sanctions regulations and the potential for liability over violations of UK anti-money laundering rules. The complexity of the situation is heightened by the fact that the assets are under strict monitoring by the central bank and regulatory authorities, and their transfer may require government approval.

Bank spokespeople stated that their decisions are based on risk profile assessments and suggested considering alternative financing options, including the use of international funds that can support Ukraine without directly transferring Russian assets.

The international credit market awaits governmental responses to the banks' positions, as further sanctions and reporting requirements could increase pressure on financial institutions operating at the intersection of interests between Russia, Ukraine, and Western countries.

Context

In 2022–2023, the UK introduced several sanctions against Russia, including the freezing of venture capital and assets that could be used to support Ukraine. New rules provide for transferring some of these assets to compensation funds, but banks have criticized this approach due to the risk of violating anti-sanctions laws.