The government of Great Britain will allocate a loan of 2.93 billion dollars to Ukraine at the expense of profits from the frozen assets of the Russian Federation.
Points of attention
- Britain is preparing to provide Ukraine with a substantial loan of 2.93 billion dollars sourced from frozen assets of the Russian Federation to support the country's military spending.
- Through financial aid and provision of military equipment, Britain is actively supporting Ukraine in its efforts against Russia, including supplying over 650 light multi-purpose missile systems to enhance air defense.
- The UK's contribution of 2.93 billion dollars to Ukraine is part of the G7 partners' credit program totaling $50 billion, with a focus on enhancing Ukraine's defense industry and strengthening its capabilities.
- British companies are playing a crucial role in supporting Ukraine by supplying modern military equipment and entering into important contracts, which highlights the ongoing cooperation and investment opportunities between the two nations.
- Collaborative efforts between Britain and Ukraine, facilitated by Task Force HIRST, aim to boost industrial production and deepen cooperation with Ukrainian companies, signaling a commitment to long-term strategic partnerships.
What is known about the transfer of a loan from Great Britain to Ukraine at the expense of frozen assets of the Russian Federation
It is noted that this loan is Britain's contribution to the credit program of G7 partners to help Ukraine in the amount of $50 billion at the expense of profits from the frozen assets of the Russian Federation.
The UK loan of £2.26bn is intended to budget support Ukraine's military spending, allowing Ukrainians to invest in key equipment to support their efforts against Russia, such as air defences, artillery and wider technical support. This aid is in addition to the existing military aid to Ukraine in the amount of 3 billion pounds per year, which the Prime Minister confirmed during his first week in office, — emphasized in the statement of the government of Great Britain.
Britain has already transferred about 400 units of various equipment to Ukraine, and British Defense Secretary John Healy recently announced that Great Britain will provide Ukraine with 650 light multi-purpose missile systems to strengthen the country's air defenses.
Britain became the first of the G7 countries to launch such a mechanism.
What is known about military aid to Ukraine from Great Britain
At the beginning of October, it became known that Britain allocated Ukraine about 4.5 billion dollars for the purchase of modern military equipment of British manufacturers.
including representatives of the Ministry of Defense, the Department of Business and Trade and the defense association ADS, visited Ukraine to discuss further cooperation with the Ukrainian government and industry representatives.
This mission is a continuation of the agreement signed in July 2024, which allows Ukraine to spend 3.5 billion pounds (about 4.5 billion dollars) on the purchase of modern military equipment from British manufacturers.
The group of the British mission was headed by Under-Secretary of State for the Armed Forces Luke Pollard.
He stated that the country constantly supports Ukraine, not only by providing military equipment, but also by developing cooperation with the Ukrainian defense industry. This helps attract investment and strengthen the capabilities of both states.
One of the key agreements of this mission was the understanding of Ukraine's needs in complex weapons and ground systems. This became a "signal" for the British defense industry, which is already preparing for future orders.
In addition, the British Ministry of Defense concluded "several important contracts" with British companies.
Among other things, an agreement was concluded with Thales for the supply of missiles for air defense and Sheffield Forgemasters for the production of forgings for artillery guns.
The intergovernmental Task Force HIRST is also working on stimulating industrial production and expanding international cooperation with Ukrainian companies.
