'Fraudulent scheme': Russia's UK embassy condemns G7-backed loans to Ukraine

The Russian embassy in London criticised Britain's plan to transfer over £2 billion ($2.5 billion) to Ukraine, labelling it a "fraudulent scheme." The funds, part of a larger loan package from the Group of Seven (G7) nations, are backed by frozen Russian central bank assets and intended to support Ukraine's military efforts and infrastructure rebuilding.

The UK announced in October its contribution of £2.26 billion to Ukraine as part of the G7 initiative, which includes Britain, Canada, France, Germany, Italy, Japan, and the United States, along with European Union officials. These loans, agreed upon in July, utilise frozen Russian assets held within the EU.

"We are closely following UK authorities' efforts aimed at implementing a fraudulent scheme of expropriating incomes from Russian state assets 'frozen' in the EU," the Russian embassy stated on social media.

UK Defence Minister John Healey clarified that the funds would exclusively support Ukraine's military capabilities, including the development of drones with extended operational range, surpassing some long-range missiles.

The Russian embassy further criticised the plan, stating, "The elaborate legislative choreography fails to conceal the illegitimate nature of this arrangement."

This follows a statement from Russia's Foreign Ministry last week, describing the US's transfer of its share of the G7's $50 billion loan package to Ukraine as "simply robbery."