London, Thanasis Gavos

UK Foreign Secretary David Cameron detailed for the first time a proposal to grant an international loan to Ukraine secured by Russian assets frozen by the West.

Speaking in the House of Lords late on Wednesday afternoon, Lord Cameron said that “there is an opportunity to use something like a corporate loan or a bond that would essentially use frozen Russian assets as collateral to give that money to the Ukrainians, knowing how will we get them back when reparations are paid from Russia”.

As the Guardian comments, this is a proposal that goes beyond the plan being discussed in the EU to give Ukraine only windfall profits from Russian central bank assets held by the West, an amount estimated at $4 billion.

Lord Cameron added that London was aiming for “maximum unity” on the British proposal between the G7 countries and the EU. “But,” he continued, “if we can’t have that, I think we should go ahead with the allies that they want to take this action.”

The British Foreign Secretary is expected to discuss this Ukrainian loan proposal in Berlin this afternoon with his counterpart Analena Burbock.

The visit comes after irritation in London over Russia’s interception of a conversation between a top German military official in which, among other things, there was reference to the presence of British soldiers “deep inside” Ukraine.

The meeting between the two ministers is expected to last four hours, with a joint press conference scheduled for the afternoon.

According to the Foreign Office, the discussion will focus on Ukraine, illegal immigration and Gaza.

On the issue of Gaza, on Wednesday Lord Cameron welcomed in London a member of Israel’s war cabinet and a key political opponent of Prime Minister Netanyahu, Benny Gantz.

As the British minister later stated, he had “difficult but necessary discussions” with him regarding the humanitarian crisis in the Gaza Strip.

Speaking of a “devastating and intensifying humanitarian crisis” facing the Palestinians, Lord Cameron noted that he had pressed the Israeli official to increase aid flows to Gaza.

“We still don’t see improvements on the ground. This must change,” he continued, stressing that there must be an immediate humanitarian ceasefire, increased delivery of humanitarian aid, by land and sea, as well as an expansion of aid types, such as materials for infrastructure repairs.

He also expressed the United Kingdom’s deep concern at the prospect of a military attack on Rafah and concluded by warning Israel that it had a “legal responsibility” to ensure aid was provided. “Responsibility has consequences,” added Lord Cameron, warning that the provision of adequate humanitarian aid will be a factor in London’s assessment of whether Israel is acting within international humanitarian law.

Mr Gantz’s trip to London and previously to Washington has angered Mr Netanyahu, who has said he did not approve of it. British commentators believe that his reception in the two capitals may be an indication or a warning of the exhaustion of the West’s patience and trust in the face of the Israeli prime minister.