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UK pledges £2.26bn to Ukraine as Zelensky says it will be used for weapons - latest (www.bbc.co.uk)
submitted 1 day ago* (last edited 1 day ago) by flamingos@feddit.uk to c/uk_politics@feddit.uk
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The UK and Ukraine have agreed a £2.26bn loan to support Ukraine's defence capabilities, Finance Minister Serhiy Marchenko says.

Volodymyr Zelensky and Sir Keir Starmer, together with Chancellor Rachel Reeves, held a video call with Marchenko this evening.

Marchenko wrote on social media, external that the funds are "ensured by frozen Russian assets".

He added that he was "grateful" to the UK for "holding the aggressor accountable for the war".
[…]
Posting on X in the last few moments, Zelensky wrote: "This loan will enhance Ukraine’s defence capabilities and will be repaid using revenues from frozen Russian assets.

"The funds will be directed toward weapons production in Ukraine. This is true justice - the one who started the war must be the one to pay.

"I thank the people and government of the United Kingdom for their tremendous support from the very beginning of this war.

"We are happy to have such strategic partners and to share the same vision of what a secure future should look like for all."

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[-] fubarx@lemmy.ml 2 points 1 day ago

Some of the US contribution to the Ukraine war effort was in the form of older equipment or credits to purchase arms from US weapons sellers (i.e. the funds just recycled back to the US).

Wondering why these UK funds are in the form of 'loans?'

It sounds like these may be to help Ukraine domestically manufacture their own arms.

this post was submitted on 01 Mar 2025
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