**London**: Rachel Reeves announces a £2.6 billion loan to Ukraine, sourced from frozen Russian assets. The agreement, which marks a significant UK financial commitment, follows discussions between UK and Ukrainian leaders and aims to support Ukraine amid ongoing conflict with Russia.
Rachel Reeves, the British Economic Minister, announced on Saturday the signing of £2.6 billion (approximately €3.15 billion) in loans to Ukraine. This financial support, which stems from frozen Russian assets in the UK, was formally endorsed during a video call with Ukrainian Finance Minister Sergii Marchenko in the presence of Ukrainian President Volodymyr Zelensky and UK Prime Minister Keir Starmer.
The agreement marks a significant financial commitment from the UK government, as it utilises frozen Russian assets to create what Reeves referred to as “Extraordinary Income Acceleration Loans.” This implies that the funds allocated to Ukraine will be offset by the profits accrued from these assets, a point Reeves made clear during the videoconference with Marchenko.
In response to the announcement, Marchenko expressed gratitude for the aid received, calling it a pivotal step towards the confiscation of all Russian assets held in European countries.
The meeting highlighted a display of support from the British government, with Starmer welcoming Zelensky to Downing Street with a warm embrace and emphasising his government’s and the country’s “unwavering support” for Ukraine. This engagement came shortly after a contentious meeting between Zelensky and US President Donald Trump at the White House.
In addition to the financial discussions, Starmer is set to host an informal summit in London on Sunday, bringing together fifteen European leaders, including Spanish Prime Minister Pedro Sánchez. The agenda is expected to include calls for greater involvement from allies in establishing a potential peacekeeping force aimed at securing any future agreements between Ukraine and Russia.
On another front, the White House responded to concerns regarding the meeting between Zelensky and Trump, countering accusations of having orchestrated an ambush against the Ukrainian leader. A senior official indicated that a “beautiful setting” had been arranged in the East Room for the two leaders to formally sign an agreement for Ukraine to share its natural resources with the US. However, they accused Zelensky of undermining the meeting by choosing to “litigate” during the discussion, despite having been advised against such an approach. The official claimed Zelensky’s tactics may indicate uncertainty regarding Ukraine’s commitment to ending the ongoing conflict.
As developments continue to unfold, the diplomatic landscape remains complex, with significant financial, political, and military implications for Ukraine and its relationships within the international community.
Source: Noah Wire Services
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