The UK has announced a £2.26 billion loan to support Ukraine in its ongoing fight against Russia’s invasion, with plans for the loan to be covered by profits generated from Russian sovereign assets that have been frozen by Western nations since the onset of the full-scale war. UK Defence Secretary Ben Wallace stated that this funding “can help turn the tables on Putin’s war machine.”
This financial assistance is part of a broader commitment made by the G7 group of advanced economies in June, which pledged a total of $50 billion (£38.5 billion) to Ukraine for military, budgetary, and reconstruction needs. Chancellor Rachel Reeves and Defence Secretary John Healey detailed the UK’s contributions to this significant initiative, ensuring that Ukraine can acquire essential weapons and support without having to repay the loan directly to British taxpayers.
Credit: Sky News
