Speaking on the fringes of the World Economic Forum meeting in Davos, the founder of Hermitage Capital Management, Sir Bill Browder, has warned that Europe and the UK could face a massive refugee crisis if $300 billion in frozen Russian assets are not seized and transferred to Ukraine.
He argued that these funds would enable Ukraine to maintain its defense for several more years without additional Western military support, which is crucial if the US withdraws its support.
Browder cautioned that forcing Ukraine into territorial concessions could trigger an exodus of 15-20 million refugees to Western Europe and the UK, while potentially encouraging further Russian aggression in the Baltic region. He emphasized that seizing the frozen Russian Central Bank reserves, mostly held in the UK and Europe, would reduce Donald Trump’s leverage over Ukraine’s future through US funding decisions.
While G7 nations have agreed to seize interest from the frozen assets for Ukrainian aid, full confiscation requires unanimous EU approval. Ukrainian President Volodymyr Zelenskyy is expected to address this issue during his upcoming Davos appearance.
“That money should be quickly confiscated and handed to Ukraine so that it is not Donald Trump determining their future. If forced into a total capitulation, we are going to end up in Western Europe, in the UK, with 15-20m refugees. And we are also going to end up in a situation where Putin will then make a move on Estonia,” Browder stated.
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