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3w ago

UK Delivers Second £752M War Loan Tranche to Ukraine for Military Support

The funds, part of a £2.26 billion loan financed by seized Russian assets, are designated for critical air defense systems, artillery, and equipment repairs as Ukraine faces intensified Russian aggression.

Britain's Chancellor of the Exchequer Rachel Reeves speaks during an India-UK Economic and Financial Dialogue (EFD), at the London Stock Excahnge Group (LSEG) in central London, Britain, April 9, 2025. JUSTIN TALLIS/Pool via REUTERS/File Photo
Britain's Defence Secretary John Healey attends a press conference with Germany's Defence Minister Boris Pistorius and Ukrainian Defence Minister Rustem Umerov during a meeting of the Ukraine Defence Contact Group convened by the United Kingdom and Germany at NATO headquarters in Brussels, Belgium April 11, 2025. REUTERS/Yves Herman/File Photo
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Overview

  • The UK has disbursed the second installment of a £2.26 billion war loan, amounting to £752 million, to Ukraine under the G7 Extraordinary Revenue Acceleration scheme.
  • This loan is financed with profits derived from frozen Russian sovereign assets, reflecting innovative funding measures to support Ukraine without burdening taxpayers.
  • The funds will be used to procure air defense systems, artillery, and spare parts to repair military vehicles and equipment, bolstering Ukraine's defensive capabilities.
  • UK Defence Secretary John Healey emphasized that 2025 is a critical year for Ukraine, with the UK committing £4.5 billion in military support this year, its largest annual contribution to date.
  • The announcement follows intensified Russian missile strikes, including a recent attack on Sumy that killed 34 people and injured over 100, underscoring the urgency of military aid.