Additional Coverage:
Britain Loans $3 Billion to Ukraine for War and Aid
The British government has announced a loan of nearly $3 billion to Ukraine. The funds will assist Ukraine in repelling Russia’s invasion and cover expenses for weapons and humanitarian aid.
This loan stems from profits generated from frozen Russian assets under British sanctions. It is part of a larger G7 initiative to provide $50 billion in loans to Ukraine, supporting its military, budget, and reconstruction efforts.
Chancellor Rachel Reeves and Defense Secretary John Healey made the announcement during a visit to Ukrainian soldiers training in Britain. They emphasized Britain’s unwavering support for Ukraine in its fight against Russian aggression.
The G7 nations introduced the Extraordinary Revenue Acceleration Loans in June, aiming to provide Kyiv with $50 billion by year-end. The scheme utilizes revenues from frozen Russian assets to make the funds available.
Britain has imposed severe sanctions on Russia, preventing Moscow from accessing over $400 billion. Healey stated that the loan will redirect these funds to support Ukraine’s defense and counter Putin’s war efforts.