The United Kingdom on April 14 sent Ukraine £752 million ($990 million) to purchase air defense and artillery equipment. This is part of an international loan program worth $50 billion, which the countries will repay with proceeds from frozen Russian assets.
This was reported by the British Ministry of Economy and Finance.
Todayʼs tranche is the second of three payments totaling £2.26 billion. The first was on March 6, and the rest will be paid next year.
British Defense Minister John Healy previously stated that Britain would provide Ukraine with £4.5 billion this year, the funds would be used to purchase air defense systems, artillery, spare parts for vehicles, and other equipment.
The British Ministry of Defense is also helping with the procurement of radar systems, anti-tank mines, and hundreds of thousands of drones.
Frozen Russian assets
The value of frozen Russian sovereign assets in the EU is almost €211 billion. In total, the European Union, G7 countries and Australia have frozen approximately €260 billion in securities and cash.
On October 23, the EU Council finally approved a loan of up to €35 billion to Ukraine. The money is the blocʼs contribution to the G7 initiative to provide Ukraine with a $50 billion (€45 billion) loan, which will be repaid with the proceeds from frozen Russian assets.
And on October 26, the G7 countries agreed on a $50 billion loan for Ukraine using proceeds from Russiaʼs frozen assets. The US contribution is $20 billion.
The money will be transferred “through various channels” — both to replenish the Ukrainian budget, and for military assistance and the restoration of Ukraine’s infrastructure. Reuters notes that Ukraine will receive all the funds under the loan by the end of 2027.
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