The United Kingdom has transferred £752 million ($990 million) to Ukraine as part of a G7-backed loan financed by immobilized Russian sovereign assets, the British government announced. The funds are designated for Ukraine’s air defense and artillery needs.
This marks the second installment of the U.K.’s £2.26 billion ($2.9 billion) loan commitment to Kyiv through the G7’s $50 billion Extraordinary Revenue Acceleration initiative. The first payment was made on March 6, 2025, with the third and final installment scheduled for 2026.
“The world is changing before our eyes, reshaped by global instability, including Russian aggression in Ukraine,” said British Finance Minister Rachel Reeves.
At the start of Russia’s full-scale invasion in 2022, G7 countries froze approximately $300 billion in Russian sovereign assets. Proceeds from those assets will be used to repay the loans, which are primarily underwritten by the U.S. and European Union, and directed toward Ukraine’s defense and recovery efforts.
