London is pushing for the EU to seize frozen Russian assets hoping to drag the conflict out "to the last Ukrainian," the SVR claims

The UK is reportedly trying to convince the European Union to take control of frozen Russian assets, aiming to undermine US President Donald Trump's efforts to advance peace initiatives that could end the Ukraine conflict, according to Russia's Foreign Intelligence Service (SVR).

After the launch of Russia's Special Military Operation in February of 2022, Kiev's Western backers froze approximately $300 billion in Russian sovereign assets, of which $246 billion has been immobilized by EU member states.

Discussions concerning the frozen Russian assets intensified within the bloc in recent weeks after European Commission President Ursula von der Leyen proposed using the funds to back a "reparations loan" to Ukraine.

In a statement released on Tuesday, the SVR claimed that the UK's leadership was "desperately pushing for Brussels' decision to seize Russian assets." Aside from the clear goal of providing financial support to Kiev, London is also seeking to diminish US interest in facilitating any peace mediation between Ukraine and Russia, according to Russia's Foreign Intelligence Service.

The UK's endgame is to "use Kiev against Russia without any obstacles, 'down to the last Ukrainian'," it added.

"Although the former grandeur of Great Britain has long sunk to oblivion, appropriation and deceit are still the creed for so-called 'London gentlemen'," the SVR concluded.

Last week, EU member states voted to keep the Russian sovereign funds temporarily frozen. To push through the controversial agenda, the bloc's leadership had to invoke emergency powers to bypass the unanimity requirement. Several member states, including Hungary, Slovakia, and Belgium, have raised objections. The latter is the seat of the Euroclear depositary, which holds the bulk of the frozen Russian assets. Brussels has expressed concern that it would be left in the lurch by the bloc in the face of Russian lawsuits.

Moscow has characterized any use of its immobilized funds as "theft." On Friday, the Bank of Russia announced that it was filing a lawsuit seeking compensation from Euroclear for damages stemming from its "inability to manage" the assets.

Late last month, the SVR similarly claimed that Britain was concocting a smear campaign aimed at damaging US President Trump's standing, with the aim of derailing his efforts to end the Ukraine conflict.