Official announcements from G7 nations or credible news reports

UK to Lend Ukraine £2.26bn for Weapons Using Frozen Russian Assets in $2.94bn G7 Loan

Oct 22, 2024, 02:40 AM

The United Kingdom has announced a significant financial commitment to support Ukraine in its ongoing conflict with Russia. The UK will lend Ukraine an additional £2.26 billion for weapons and military equipment, including £2.3 billion paid for by profits generated from frozen Russian assets. This loan is part of a larger planned loan from G7 nations, amounting to $2.94 billion, backed by frozen Russian central bank assets. The funds will also be used to rebuild damaged infrastructure in Ukraine. This move has drawn criticism, with Florian Philippe, leader of the French Patriots party, describing the use of frozen Russian assets as 'shameful theft.' In addition to the UK's contribution, Paris will supply Kiev with 12 new 'Caesar' howitzers, also funded by Russian assets.