Britain freezes russian assets worth more than $30 billion

"The UK has frozen £25 billion (over $30 billion) worth of russian assets and, working with our allies, we have deprived russia of over $400 billion, the equivalent of four years of russian military spending. We will continue to apply financial sanctions vigorously as part of a broader response to russia's barbaric invasion of Ukraine,” said Emma Reynolds, Economic Secretary to the Treasury.

It is also noted that russia's overall financial condition has deteriorated, and the federal budget is expected to remain in deficit until at least 2026.

"The ruble has depreciated significantly, and russia is experiencing a shortage of skilled workers, which is further straining the economy. Inflation is rising, well above target, and high interest rates and economic isolation have made borrowing expensive. As a result of the UK sanctions, the russian military has been forced to turn to rogue countries such as North Korea and Iran for critical goods,” the report says.

Source: Ukrinform