FOREIGN Secretary Lord Cameron wants to spend £278billion in frozen Russian assets to help rebuild war-torn Ukraine.
The former PM — who also called on the US to approve a new £88billion aid package — wants a joint approach to using the cash, frozen since Russia’s 2022 invasion.
He said: “Is it time not just to freeze the assets… but to spend some of the assets.
“I think there are some very strong answers for why we should consider doing this.”
And he warned if the EU and US fail to agree support for Kyiv it would be a “Christmas present” for Vladimir Putin.
He visited the US last week where he called on Congress to approve a new military aid deal worth £88 billion.
The Remainer also admitted to Peers he is “impressed” with Britain’s post-Brexit trade success.
He described being “delighted” by new trade deals, including the UK joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership of Australia, Canada, Japan and eight other states.
And he claimed “a lot of very good work” is being done to boost Brexit Britain’s exports.
Lord Cameron said: “I’m delighted that we’re doing CPTPP. We’ll be one of the largest players in this new emerging bloc. We can help shape, develop and grow it.
“While currently it’s a small percentage of our trade, these are some of the fastest growing economies in the world.
“I think we can do that consistent with our obligations under the withdrawal agreement and we can make that work and that’s what we should be doing.”
