UK transfers first GBP 752M to Ukraine from frozen Russian assets
Ukrainian Prime Minister Denys Shmyhal announced this on Telegram, according to Ukrinform.
"Today, we received GBP 752 million as part of the G7 ERA initiative. These funds will be directed toward strengthening Ukraine's defense capabilities," Shmyhal said.
He expressed gratitude to the UK government and G7 partners for implementing a mechanism that redirects Russian assets to support Ukraine.
The Ukrainian government hopes that all Russian sovereign assets will eventually be confiscated and transferred to benefit the country, Shmyhal added.
In October 2024, it was announced that Ukraine would receive a GBP 2.26 billion ($2.93 billion) loan from the UK, funded by profits from frozen Russian assets.
Under the ERA mechanism, Ukraine received $1 billion from the United States in December 2024.
In January 2025, the European Union transferred the first EUR 3 billion from its share of the loan.
In June 2024, G7 leaders agreed to provide Ukraine with a $50 billion loan, to be repaid using future profits from approximately EUR 260 billion in frozen Russian foreign reserves.
