United to win: Ukraine and Britain sign $3 billion defense loan agreement
Зустріч президента Володимира Зеленського із Премʼєр-міністром Кіром Стармером. Фото: Фейсбук / Володимир Зеленський
The United Kingdom has provided Ukraine with a £2.26 billion loan under the G7 Extraordinary Revenue Acceleration for Ukraine initiative. According to the agreement, the loan will be used to strengthen Ukraine's defense capabilities and will be repaid using proceeds from frozen Russian assets.
As Rubryka reports, citing a Facebook post by President Volodymyr Zelensky, the Ukrainian leader described his recent visit to London, where he held a "warm and important" meeting with UK Prime Minister Keir Starmer. Their discussions focused on reinforcing Ukraine's position to achieve a just peace with security guarantees.
According to Zelensky, the negotiations covered:
- The challenges facing Ukraine and Europe today
- Coordination with international partners
- Specific steps to strengthen Ukraine's position
- Ending the war with a just peace
- Ensuring reliable security guarantees
Meeting of President Volodymyr Zelensky with Prime Minister Keir Starmer. Photo: Facebook / Volodymyr Zelensky
President Volodymyr Zelensky highlighted the significance of the agreement, stating:
"Principled words of support from the Prime Minister and an important decision: today, in our presence, a loan agreement was signed between Ukraine and the United Kingdom. This loan, aimed at strengthening our defense capabilities, will be repaid using proceeds from frozen Russian assets."
The president emphasized that the funds will be directed toward weapons production in Ukraine, underscoring a clear message: "The one who started the war must pay."
Zelensky also expressed deep gratitude to the people and government of the United Kingdom for their unwavering support since the beginning of the war.
"We are fortunate to have such strategic partners who share our vision of what confidence in the future should mean for all," he added.
What is known about Zelensky's visit to the UK?
As previously reported, British Prime Minister Keir Starmer will host Ukrainian President Volodymyr Zelensky and more than a dozen European leaders in London on March 2. Their discussions will focus on the security guarantees Europe can provide to Kyiv in the event of a ceasefire with Russia.
According to Rubryka, on March 1, after concluding his visit to the United States—where he met with US President Donald Trump—Zelensky arrived in the United Kingdom. During his visit, he met with Prime Minister Keir Starmer and is also scheduled to meet with King Charles III and European leaders on March 2.
Additionally, on March 1, Ukrainian Finance Minister Serhii Marchenko and British Chancellor of the Exchequer Rachel Reeves signed a £2.26 billion (approximately $3 billion) loan agreement for Ukraine. The signing ceremony, held online, was attended by Ukrainian President Volodymyr Zelensky and UK Prime Minister Keir Starmer.
The funds are part of the Extraordinary Revenue Acceleration for Ukraine (ERA) initiative, a G7 program totaling $50 billion. The loan will be repaid using future proceeds from frozen Russian sovereign assets.
As a reminder, under the same ERA mechanism, Ukraine has already received $1 billion from the United States and €3 billion from the European Union.
