Boris Johnson on Friday night condemned the Government for not using Russian assets to boost Ukraine’s defences, demanding Sir Keir Starmer ‘show some spine’ and stand up to Vladimir Putin.
The former Prime Minister told the Daily Mail Britain should unilaterally unfreeze up to £20billion in Russian assets held in London.
These funds, held in the city since Russia’s invasion of Ukraine almost four years ago, could be used as collateral for a loan to Ukraine.
Mr Johnson issued his demand following the failure by the UK and the European Union to agree a reparation loan underwritten by Kremlin assets.
The EU-led loan plan, described as ‘legally watertight’ by Mr Johnson, collapsed after countries were intimidated by Russia and the US. As a Plan B, the UK and EU agreed to lend Ukraine €90billion(£79billion) from its own funds.
Ukraine is rapidly running out of money to fund its stoic defence against Russian forces and its troops are being pushed back in the country’s eastern provinces, weakening Ukraine’s bargaining position in peace talks.
Mr Johnson accused Sir Keir of ‘abdicating leadership’ on the issue to the likes of German Chancellor Friedrich Merz and EU chief diplomat Ursula von der Leyen.
He said: ‘My message to the Prime Minister is show some spine, show some leadership. Why have we abdicated leadership on Ukraine? Kyiv used to look to us. Why have we heard nothing [from Downing Street] on this? London is the financial capital of Europe.
Boris Johnson condemned the Government for not using Russian assets to boost Ukraine’s defences
Keir Starmer should ‘show some spine’ and stand up to Vladimir Putin, the former Prime Minister has claimed
‘There are about £20billion in frozen Russian assets in this country and a slightly smaller amount in France. Britain and France could act unilaterally. This was a terrible missed opportunity, not only to fund Ukraine’s defence but to send an unequivocal message to Putin.
‘Instead, Putin has intimidated the EU and Britain.’ Mr Johnson, who was one of Ukraine’s strongest allies while PM, also condemned those countries in Eastern Europe who blocked plans to utilise Russian assets. The move collapsed partly due to Hungary, Slovakia and the Czech Republic refusing to back the scheme.
Other countries, such as Italy, apparently withdrew their support under pressure from the US.
Mr Johnson added: ‘How can those countries that were invaded by Russia in the 20th century treat Ukraine in that manner, a country that is experiencing what they did? They must be made to feel the consequences of their actions. But congratulations to Chancellor Merz and to Ursula for their leadership. This really was a missed opportunity.
‘Particularly to signal to Putin that Russia will be treated as a pariah state, which is what Russia deserves, and that the UK and Europe will stand up.
‘They could have liberated huge funds. The 90 billion euros is much better than nothing, obviously, but still, we should have shown Putin we will disrupt his long-term interests.’
Gloating Putin mocked Britain and Europe following the collapse of the deal, which he said would have been ‘daylight robbery’. The Russian President chastised his country’s opponents and accused Ukraine of not signalling it wants peace at his traditional pre-Christmas marathon question and answer session screened live on Russian TV.
