Britain will provide Ukraine with a loan of $2.93 billion at the expense of the frozen assets of the Russian Federation

Britain will provide Ukraine with a loan of $2.93 billion at the expense of the frozen assets of the Russian Federation. Illustrative photo from open sources

Great Britain will provide Ukraine with a loan of 2.26 billion pounds (about $2.93 billion), which will be repaid from the proceeds of frozen Russian assets.

This is reported on the website of the British government.

The new £2.26 billion is the UK's contribution to the G7 loan program for Ukraine, under which G7 countries will provide Ukraine with $50 billion for military, budgetary and reconstruction needs. The loan will be repaid from profits from frozen Russian assets.

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“The £2.26bn UK loan is intended to support Ukraine's military spending, allowing Ukrainians to invest in key equipment to counter Russia, such as air defences, artillery and wider technical support. This aid is in addition to the existing military aid to Ukraine of £3 billion per year, which was confirmed by the Prime Minister during his first week in office,» the message reads.

In total, Great Britain sent about 400 units of various equipment to Ukraine. British Defense Secretary John Healy recently announced that Great Britain will provide Ukraine with 650 light multi-purpose missile systems to strengthen the country's air defenses.

We will remind that in August of this year, Ukraine started negotiations with Great Britain regarding the conclusion of an agreement on the transition to a stronger and deeper partnership.

We will also remind you that Ukraine was supposed to receive the first part of the frozen Russian assets at the beginning of August.