The money is the UK's contribution to a £38.39 billion loan package agreed by the G7 group of nations, funded by frozen Russian assets.
The billion dollar loan could help fight Putin’s war machine A £2.6 billion loan from the United Kingdom to Ukraine could help ‘turn the table’ on Vladimir Putin’s war machine. The money is the UK’s contribution to a £38.39 billion loan package agreed by the G7 group of nations, funded by frozen Russian assets. The money could be used to fund air defence, artillery or other military equipment and comes on top of the UK’s existing £3 billion-a-year support for Ukraine.
The UK Government will introduce new laws within weeks to enable the transfer of the new funds to Ukraine as quickly as possible. Defence Secretary John Healey said: ‘By using the money generated from these sanctioned Russian assets, we can help turn the tables on Putin’s war machine. ‘This urgent funding will directly support Ukraine’s defence using the proceeds from assets that had helped fuel Putin’s aggression.
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