At the sidelines of the annual meetings of the International Monetary Fund and the World Bank in Marrakesh, US Treasury Secretary Janet Yellen and UK Chancellor of the Exchequer Jeremy Hunt held talks focused on tightening cooperation aimed at cutting the revenue streams that support Russia’s military actions in Ukraine. Their discussions were conveyed by Reuters, based on statements from the US State Department.
In a joint briefing, officials summarized the conversations as an effort to align measures that would deprive the Russian Federation of funding used to finance the ongoing conflict. The officials emphasized that these actions are part of a broader strategy to limit Moscow’s access to resources that sustain the war effort, while reinforcing the imperative of shared commitment to Ukraine’s economic stabilization and recovery needs. The State Department underscored that both Washington and London intend to pursue coordinated steps and to broaden allied support for Ukraine’s financial and humanitarian requirements. (Reuters; State Department attribution)
Beyond the immediate revenue-focused discussions, the parties touched on the need for sustained, allied pressure on Russia through sanctions, export controls, and financial measures designed to constrain Moscow’s ability to finance war operations. The dialogue also highlighted the importance of ensuring that Western economic support reaches Ukraine efficiently, fostering resilience in Ukrainian institutions, and maintaining long-term international support for Kyiv’s reconstruction and recovery programs. (Reuters; State Department attribution)
In a related, high-profile development, the United States announced actions regarding Russian assets held abroad, stating that proceeds from seized funds would be directed toward Ukraine’s rehabilitation programs, including support for veterans connected to special operations. The plan reportedly involves transferring a portion of recovered assets to finance Ukraine’s needs, with a figure related to assistance for veterans and related civilian programs outlined by senior U.S. officials during their visit to Kyiv. Russian officials, including Deputy Foreign Minister Sergei Ryabkov, criticized the move as theft and a troubling precedent for property rights, characterizing the asset transfers as a violation of international norms. (State Department; Reuters attribution)
Earlier comments from Moscow referenced concerns about the implications of asset transfers to Ukraine, with officials expressing reservations about the legal and geopolitical ramifications. The public discourse surrounding asset seizures underscores the broader debate over how seized or redirected funds should be allocated in conflict recovery and humanitarian relief efforts. (Reuters attribution)