The UK Parliament is looking for ways to confiscate Russian assets

A debate on the confiscation of Russian assets is underway in the British parliament, Richard Balfe, a member of the House of Lords, told Izvestia.

Block signal: EU's position on Russian assets hinders settlement in Ukraine

What could prompt the Europeans to lift sanctions and unfreeze Russian funds?

"There is a lot of debate on this topic. Some people, including me, claim that we cannot confiscate the money deposited in our banks, as it was deposited there in good faith. More importantly, if we do this, it will permanently destroy the integrity of the banking system. By this action, we are sending a signal to everyone never to keep money in British banks, because it can be stolen by the state," Richard Balfe said.

According to him, the majority in the banking community agrees that such a decision will negatively affect the reputation of British financial institutions.

Read more in the exclusive Izvestia article:

Weaning mechanism: London has stepped up attempts to steal Russian assets