UK to give Ukraine $2.9 billion from frozen Russian assets

This money will be used exclusively for purchasing weapons for the Ukrainian Armed Forces.

Britain will provide Ukraine with $2.94 billion as part of a loan from the G7 countries. This loan will be repaid from profits from frozen Russian assets.

According to British Defence Secretary John Healey, the amount allocated by his country will be directed exclusively to the needs of the Ukrainian Armed Forces and could be used to develop drones capable of flying further than some long-range missiles, Reuters writes .

Asked whether Britain would allow the Ukrainian Armed Forces to use the money to buy British Storm Shadow missiles to strike targets deep inside Russia, Healey said: “They are very much looking at the use of even longer-range drones. They will work with us on how they use this money and the weapons they most need.”

Healy also said that “by using money from Russian assets, we can help turn the tide of the war.”

“This emergency funding will directly support Ukraine’s defence, using revenues from assets that have helped fuel Putin’s aggression,” the British minister said.

The publication recalled that this amount will be in addition to the $16.61 billion that the UK has already allocated to support Ukraine.

At the same time, as The Telegraph pointed out , this will be the first time that Great Britain uses frozen Russian assets to finance the Ukrainian Armed Forces.

(C)UNIAN 2024