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The Independent UK

World

Rachel Hagan

UK to use frozen Russian assets for £2.26 billion loan to support Ukraine war effort

United Kingdom Ukraine Russia G7 Vladimir Putin Rachel Reeves

Chancellor Rachel Reeves announced the loan support for Ukraine - (Leon Neal/PA Wire)

The UK is using profits on frozen Russian assets to loan £2.26 billion to Ukraine to aid with its fight against Russia’s invasion, it has been announced.

The funds represent the UK’s share of a $50 billion (£38.39 billion) loan package agreed upon by the G7 nations, financed through interest generated from sanctioned Russian sovereign assets.

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