UK to Loan Ukraine £2.3 Billion Using Frozen Russian Assets
- Funding is part of wider $50 billion package from G7 nations
- Britain says Ukraine to decide how funds to be used in war
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The UK will loan Ukraine £2.3 billion ($3 billion) to purchase military equipment, paid for by profits generated by frozen Russian assets.
The funding comes as part of a wider $50 billion package this year from the Group of Seven nations and the European Union that was announced in June. It’s the first time Britain has detailed its contribution. The plan was for the EU and the US to provide about $20 billion each, with Canada, Japan and the UK contributing the remainder.