British banks have spoken out against the use of frozen Russian assets to aid Ukraine.
British banks, following French ones, have spoken out against plans to use about $11 billion of frozen Russian assets to help Ukraine.
The Financial Times reports, citing sources.
They say the British government has not offered them compensation for possible retaliatory measures from Moscow.
“We're concerned about the legality of this… the government is setting a new precedent, as it has never confiscated assets like this before. Russia will sue them,” said one senior banker.
“The legal risk is that if Ukraine fails to pay, it will have to seize an asset that the government considers its own, but Russia does not,” added the adviser to major creditors.
