UK Unveils £2 Billion Loan to Support Ukraine in Conflict
The government has announced a £2.26 billion loan for Ukraine to purchase military equipment in order to defend itself in its conflict with Russia. The loan will be repaid using profits from sanctioned Russian assets. The funds are part of the UK’s contribution to the G7 Extraordinary Revenue Acceleration Loans to Ukraine scheme, totaling $50 billion (£38.52 billion).
According to the Treasury, this loan is in addition to the existing £3 billion yearly commitment in military aid and the £12.8 billion pledged in military, economic, and humanitarian support. The UK aims to support Ukraine for as long as necessary.
This urgent funding will directly enhance Ukraine’s defense capabilities using proceeds from assets previously frozen due to Russian aggression.
The UK also recently agreed to put troops on standby to be sent to Estonia as part of increased European defense support. These efforts are aimed at strengthening security in the region and supporting NATO allies.
Ukraine’s President Zelenskyy outlined his “victory plan” at a NATO meeting, including a request to lift weapon restrictions against Russia. However, Western leaders have not publicly supported this request due to concerns about escalating tensions with Moscow.
