UK Sends Second $990M Payment to Ukraine Backed by Frozen Russian Assets

On April 14, the United Kingdom made its second payment of £752 million ($990 million) to Ukraine as part of a credit agreement backed by revenues from frozen Russian assets, aimed at supporting the purchase of military equipment.

The funds will primarily be used for acquiring essential defense equipment, including air defense systems.

This credit is part of the Extraordinary Revenue Acceleration for Ukraine mechanism, which was introduced by G7 countries and totals $50 billion.

The UK will direct its share of £2.26 billion ($3 billion) toward purchasing defense products and strengthening Ukraine’s defense capabilities, including the production of weapons within Ukraine.

Rachel Reeves, the UK Chancellor of the Exchequer, commented:

“The world is changing before our eyes, reshaped by global instability, including Russian aggression in Ukraine. A strong Ukraine is vital to UK national security and this second tranche of funding will help put them in the strongest possible position, and contribute towards our collective security.”

The first payment of $1 billion was made on March 6, with the final payment scheduled for 2026.

Earlier, it was reported that at the latest Ramstein-format meeting on April 11, European countries pledged over €21 billion ($24 billion) in security assistance.