UK Steps Up Aid: $3B Loan to Ukraine Using Frozen Russian Assets

Britain has taken a significant step to bolster Ukraine's defense efforts by announcing a $3 billion loan. This money will be used to purchase weapons and provide aid, helping Ukraine fend off Russia's invasion. The loan comes from profits generated by Russian assets that were frozen due to British sanctions. This move is part of a broader G7 plan to loan Ukraine a total of $50 billion by the end of the year. The announcement was made by Chancellor Rachel Reeves and Defense Secretary John Healey during a visit to Ukrainian soldiers training in Britain. Reeves stressed that Britain's support for Ukraine remains steadfast and will continue as long as necessary. She highlighted that a secure Ukraine is vital for the security of the United Kingdom. The G7 nations, including Britain, France, Germany, Italy, Japan, the United States, and the European Union, had previously announced the Extraordinary Revenue Acceleration Loans for Ukraine. The goal is to make $50 billion available to Kyiv by leveraging revenues from assets frozen by sanctions targeting Russia. Britain described its sanctions against Russia as the most severe ever imposed on a major economy. These sanctions have prevented Moscow from accessing over $400 billion. By using the money from these sanctioned Russian assets, Britain aims to directly support Ukraine's defense against Putin's war machine.