Ukraine has received its first tranche of funding from the United Kingdom through a scheme that utilizes profits from frozen Russian assets in Europe, Prime Minister Denys Shmyhal announced today.
In a statement on social media platform X, Shmyhal confirmed that the funds would be allocated to bolstering Ukraine’s defense capabilities. He reiterated Ukraine’s call for the complete confiscation of Russian sovereign assets, urging that they be redirected to support Ukraine in the future.
Expressing gratitude to UK Prime Minister Keir Starmer and G7 partners, Shmyhal acknowledged their role in establishing a mechanism that channels Russian funds to Ukraine’s benefit.
The initiative, first introduced by the UK government in October, is part of a broader financial support package. It contributes to the £38 billion ($50 billion) fund agreed upon by G7 nations in June, aimed at sustaining Ukraine amid its ongoing conflict with Russia.
Source:https://www.bbc.com/news/live/cg70jylp32gt
