MPs press government to seize frozen Russian assets

The Government has faced renewed pressure in the House of Commons to move more decisively on the use of frozen Russian state assets, after Reform UK MP Richard Tice urged ministers to show leadership by committing to their unilateral use in support of Ukraine.

Speaking during the Ukraine debate, Tice said there was broad cross-party backing for Kyiv’s defence against Russia and argued that frozen central bank assets represented a powerful but underused tool. “I welcome the Minister’s statement and reiterate Reform’s strong support, with all parties in this House, for Ukraine, its sovereignty and its independence against the dictator Putin,” he told MPs.

Tice said he had long argued for the seizure of frozen Russian assets and suggested the Government should now go further than coordination alone. “Ukrainian friends of mine have reinforced the strength of the negotiating leverage of such assets,” he said, adding that the UK had an opportunity to lead.

“This Government therefore have the opportunity to show real leadership in the coalition of the willing by committing unilaterally to using those frozen central assets,” he said.

Responding, Minister for Defence Readiness and Industry Luke Pollard welcomed Tice’s support for Ukraine and stressed the importance of presenting a unified parliamentary front. “It is so important that we can, as much as possible, present a cross-party, unified voice,” Pollard said, thanking the MP “in the spirit of Christmas” for backing the Government’s approach.

Pollard also addressed the issue of Russian influence in UK politics, saying that efforts to counter it mattered across all parties. “The steps that he has taken, especially to address the pollution of Russian bribes in his own party, are important steps forward,” he said, adding: “Hopefully, Russian bribes will never, ever again be taken by people in his party or anyone else’s.”

Turning to frozen Russian assets, Pollard acknowledged their strategic importance but emphasised the need to act in concert with allies. “The hon. Gentleman is absolutely right to raise the issue of frozen Russian assets, and it is important that the UK moves with our international allies in this respect,” he said. “That has been our approach from the start.”

Pollard suggested progress may be approaching, telling MPs: “I hope that we are nearly at the point where progress can be made.” He underlined that frozen assets could serve both diplomatic and financial purposes. “He is right to say just how important it is to use those assets as leverage in peace, as well as to use the value of those assets, and the interest from them, to support Ukraine in the fight against Putin’s illegal invasion,” the minister said.