- Chancellor confirms the UK has sent the third £752 million
payment as part of its £2.26 billion loan for Ukraine to buy
military equipment
- Ahead of meeting the Ukrainian PM on Wednesday, Reeves says
the UK will keep pressure on Russia - including action against
sanctioned “shadow fleet” vessels - and keep options open to join
the EU's €90bn loan effort
- Announcement comes as Chancellor flies to Washington for IMF
Spring Meetings, setting out Britain's plan to keep costs down
for people and build a more resilient economy.
The Chancellor has confirmed the UK has sent £752 million to
Ukraine, as part of the UK's £2.26 billion loan to spend on
military equipment.
is in Washington for the IMF
Spring Meetings, where she is urging international partners to
act together on global security and stability, including
sustained support for Ukraine. She will be setting out
Britain's plan for economic security through the Middle East
crisis — prioritising stability, keeping costs down for families
and businesses, taking back control of our energy costs, and
going further and faster on our plan for a stronger, more
resilient economy.
The loan to Ukraine is backed by the profits of immobilised
Russian sovereign assets held in the EU, and will help
Ukraine procure equipment to defend itself against
Russia's unprovoked aggression. This does not count as part
of the UK spending 2.5% of GDP on defence.
This funding will be spent on critical military equipment to meet
Ukraine's urgent needs, including long‑range strike capabilities,
air defence missiles and systems, and Ukrainian‑produced drones
to help protect civilians and national infrastructure from
Russia's attacks.
The announcement comes as the Defence Secretary confirms that the
UK is set to deliver 120,000 drones as part of a separate £3.75
billion UK military support package for Ukraine.
In Washington tomorrow, Reeves will meet with Ukrainian Deputy
Prime Minister Yulia Svyrydenko and hold talks with G7
finance ministers, reaffirming the UK's support for Ukraine and
the need to maintain pressure on Russia.
Chancellor of the Exchequer said:
“The UK stands shoulder to shoulder with Ukraine. This
funding will help deliver the military equipment Ukraine needs as
it defends itself against Russia's unprovoked war.
“I am proud that the UK is a leading partner in providing
vital support to Ukraine, and we will continue to step up to do
more while keeping pressure on Russia.”
The Chancellor also confirmed the UK would look carefully at
options to enable participation in the EU's €90 billion loan to
Ukraine.
She also highlighted how the UK is increasing pressure on Russia
following the Prime Minister's announcement that the UK is ready
to deploy Armed Forces and law enforcement to interdict
UK‑sanctioned Russian “shadow fleet” vessels transiting UK
waters, stepping up pressure on Putin's war effort.
Notes to editors
- This funding is the UK's contribution to the G7 Extraordinary
Revenue Acceleration (ERA) Loans to Ukraine scheme, through which
G7 countries will collectively provide $50 billion to support
Ukraine.
- The UK's £2.26 billion contribution is earmarked for military
procurement and has been delivered in three £752 million
payments.
- In total, the UK has committed up to £21.8 billion for
Ukraine:
- £13 billion in military support (including the £2.26 billion
ERA loan)
- Up to £5.3 billion in non-military support (including
bilateral assistance and fiscal guarantees)
- £3.5 billion cover limit in export finance (via UK Export
Finance for reconstruction and defence projects)
