In an op-ed published in The Sunday Times, UK Prime Minister Rishi Sunak has called on allied Western countries to take bolder steps in seizing frozen Russian assets to support Ukraine's efforts against Russian aggression.

Sunak emphasized the need for the Group of Seven (G7) nations to find lawful avenues to seize more frozen Russian assets, with the proceeds directed towards aiding Ukraine's military forces. He stressed the importance of hitting the Russian war economy harder and maximizing the utilization of frozen assets.

While Western countries have collectively frozen approximately $600 billion in Russian assets, challenges have arisen in passing these funds to Ukraine due to legal complexities and concerns over economic precedent. The Russian government has vehemently opposed such actions, threatening legal action in international courts against any attempts to seize Russian assets.

Experts have also raised concerns about the potential negative impact on Ukraine's economy if frozen Russian assets are seized and redirected to Kiev. However, recent developments, including a tentative agreement by the European Union to transfer $216 billion from the Russian central bank to support the Ukrainian government, indicate progress in this direction.

Additionally, the US Senate Foreign Relations Committee has approved legislation allowing the government to freeze Russian assets and allocate the proceeds to Ukraine, marking a significant step towards supporting Ukraine's defense efforts. If signed into law, this legislation would represent the first instance of the US seizing foreign assets of a country it is not at war with, reflecting a commitment to holding Russia accountable for its actions in Ukraine.

The Biden administration has expressed support for the bill, emphasizing the importance of having legislative authorities that provide flexibility in addressing Russia's aggression in Ukraine and ensuring accountability for the damage caused by Russian actions.