LONDON (Reuters) – Britain said it had launched a new fund on Monday to address national security challenges including the effective enforcement of trade, transport and financial sanctions, saying it would have a budget of almost 1 billion pounds ($1.21 billion).
The UK Integrated Security Fund will replace the existing Conflict, Stability and Security Fund, whose current work includes assistance to Ukraine, the Foreign Office said in a statement.
“As part of this, the Economic Deterrence Initiative will ensure there is nowhere to hide from our sanctions regime,” foreign minister James Cleverly said.
($1 = 0.8288 pounds)
(Reporting by William James; editing by Michael Holden)
