Loans will be repaid using interest generated by $300bn of frozen Russian assets held in the west

Britain is to lend Ukraine an additional £2.26bn and allow Kyiv to spend the money on weapons to fight off the Russian invasion as part of a wider $50bn (£38.5bn) loan programme expected to be confirmed by G7 members later this week.

The loans will be repaid using interest generated by the $300bn of frozen Russian assets held in the west, with the extra funds promised as the US heads towards a presidential election where support for Ukraine is a divisive issue.

Rachel Reeves said: “The profits being made on those assets aren’t being kept for Russia to use in the future. They’re now being used to fund Ukraine.” The chancellor made the announcement alongside the defence secretary, John Healey.

  • sandbox@lemmy.world
    3·
    2 months ago

    Just for some constructive feedback, you shouldn’t use the term “genocide” when it isn’t applicable, because it just leads to people obsessing over the fact that you used that term rather than considering the actual point that you were making.