The United Kingdom agreed to loan Ukraine around $3 billion on Saturday to support their efforts in the war against Russia after a contentious White House meeting left the world wondering about the nation’s ability to secure its sovereign borders.
Ukrainian President Volodymyr Zelensky thanked the fellow European country for its assistance amid the conflict.
“This loan will enhance Ukraine’s defense capabilities and will be repaid using revenues from frozen Russian assets. The funds will be directed toward weapons production in Ukraine,” the Ukrainian leader wrote.
“This is true justice – the one who started the war must be the one to pay.”
Current funds will be pooled from the G7 Extraordinary Revenue Acceleration for Ukraine (ERA) which is valued at $50 billion. Under the G7 ERA mechanism, Ukraine has already received $1 billion from the U.S. and Europe in addition to $3 billion from the European Union, according to Ukraine’s Ministry of Finance.
“The United Kingdom continues to stand in defense of Ukraine. Today’s agreement, which contributes to strengthening Ukraine’s defense capabilities, confirms this. I am grateful to the UK Government for this support and personally to Rachel Reeves for her significant efforts that made this agreement possible,” Ukraine’s Finance Minister Sergii Marchenko said.
The agreement follows the heated Friday Oval Office meeting, during which President Trump and Vice President Vance fired at Zelensky, accusing him of being ungrateful for U.S. support and aid. After the meeting, Trump wrote on Truth Social that Zelensky “is not ready for Peace if America is involved.”
Zelensky’s meeting with British Prime Minister Keir Starmer was notably more friendly, with the Ukrainian leader referring to it as “meaningful and warm” in a post on X,
