The effort could be funded by assets seized in Moscow, Foreign Minister Liz Truss said.
The UK will host a Ukraine recovery conference next year as the country’s conflict with Moscow continues, the UK Foreign Office has announced.
This year’s Ukraine Recovery Conference opens Monday in Lugano, Switzerland. Britain plans to sit on next year’s oversight board and coordinate efforts between Kyiv and other countries to rebuild the nation, with an office set to be set up in London.
“We led support for Ukraine during the war and will continue to lead support for the Ukrainian government’s reconstruction and development plan,” he added. According to the statement by British Foreign Secretary Liz Truss prepared for the Lugano conference.
Meanwhile, the UK intends to follow Canada’s lead and seize Russian assets in the country and use them to support kyiv, according to Truss.
Addressing parliament last week, she said the money should be distributed to those who have suffered in the fighting in Ukraine.
“This is something we are working on jointly with the Home Office and the Treasury, but I certainly agree with the concept. We just need to get the details right,” she told deputies.
The Minister of Foreign Affairs added that the new legislation “most likely, but not necessarily” would be needed to achieve this goal. Citing the example of Canada, Truss cited the Canadian Senate’s decision in late June to empower authorities to confiscate and sell assets seized from Russia after it launched its military operation in Ukraine.
The UK has frozen the assets of a number of Russian tycoons, airlines and Sberbank, Russia’s biggest bank.
Last week, the G7 group announced that it would continue to support Ukraine and explore “viable options” meet Kyiv’s needs for humanitarian aid and reconstruction, “including the use of frozen Russian assets.”