UK transfers nearly $1 billion to Ukraine beneath G7 mortgage lined by Russian property

The U.Okay. transferred 752 million kilos ($990 million) to Ukraine on April 14 beneath a G7 mortgage lined by Russian property to purchase air protection and artillery, the British authorities introduced.

The U.Okay. has pledged to lend Ukraine 2.26 billion kilos ($2.9 billion) in three equal installments as a part of the G7's Extraordinary Income Acceleration scheme, price $50 billion in complete.

This installment is the second. Ukraine acquired the primary a part of the mortgage from the U.Okay. on March 6, 2025. The ultimate half will probably be paid in 2026.

"The world is altering earlier than our eyes, reshaped by world instability, together with Russian aggression in Ukraine," British Finance Minister Rachel Reeves stated.

On the onset of the full-scale conflict in 2022, the G7 nations immobilized some $300 billion in Russian sovereign property. The $50 billion mortgage, shouldered primarily by the U.S. and the EU, will probably be funneled to Ukraine's protection wants and restoration and repaid by proceeds from the frozen property.

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