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UK Signs $2.8 Billion Loan Agreement to Support Ukraine's Defense Production

The loan, funded by profits from frozen Russian assets, follows tensions between Zelensky and Trump over U.S. support and resource negotiations.

Volodymyr Zelenskiy, Ukraine's president, right, and Keir Starmer, UK prime minister, during a meeting at 10 Downing Street in London, UK, on Saturday, March. 1, 2025. Starmer retains his unwavering support for Ukraine and is playing his part to find a path forward to a lasting peace, based on Ukraine's sovereignty and security, according to a statement from Downing Street. Photographer: Chris J. Ratcliffe/Bloomberg via Getty Images
Britain’s Prime Minister, Sir Keir Starmer (L) welcomes Ukrainian President, Volodymyr Zelensky to 10 Downing Street on March 1, 2025 in London England. The Ukrainian President arrived in London today to meet with the British prime minister ahead of a summit of European leaders on Sunday.
Britain's Chancellor of the Exchequer Rachel Reeves, front, signs a document of defence lend for Ukraine on the day she holds a video conference meeting with Ukraine's Finance Minister Sergii Marchenko, as British Prime Minister Keir Starmer, left, and Ukrainian President Volodymyr Zelenskiyy, right, stand in London, England, March 1, 2025.
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Overview

  • The United Kingdom has signed a $2.8 billion loan agreement with Ukraine to fund domestic weapons production as part of a G7-led initiative worth $50 billion.
  • The loan will be repaid using revenues from frozen Russian sovereign assets and is structured with a 30-year repayment term.
  • Ukrainian President Volodymyr Zelensky thanked the UK for its unwavering support, highlighting the loan as a step toward strengthening Ukraine's defense capabilities.
  • The agreement follows a contentious meeting between Zelensky and U.S. President Donald Trump, where discussions over a rare earth minerals deal and peace negotiations broke down.
  • British Prime Minister Keir Starmer publicly reaffirmed the UK's commitment to Ukraine during Zelensky's visit, emphasizing long-term support for the country's fight against Russian aggression.