UK Grants £2.26 Billion Loan to Ukraine for Weapon Production

www.mangaloretoday.com

London, March 2, 2025: Ukrainian President Volodymyr Zelensky has announced that a £2.26 billion ($2.84 billion) loan from the United Kingdom will be allocated for the production of weapons in Ukraine. The agreement was finalized on Saturday, just a day after a tense meeting in the Oval Office between Zelensky, U.S. President Donald Trump, and Vice President JD Vance regarding American support for Ukraine.

The loan agreement was officially signed by UK Chancellor Rachel Reeves and Ukraine’s Finance Minister Sergii Marchenko, with the first installment expected to be delivered next week.

According to British officials, the loan will be financed using profits generated from frozen Russian assets. This initiative is part of a broader $50 billion support package pledged by the G-7 nations to assist Ukraine amid its ongoing conflict with Russia.

Zelensky expressed gratitude to the UK for its unwavering support since the war began.

“The funds will be directed toward weapons production in Ukraine,” he stated on X, formerly Twitter. “I thank the people and the government of the United Kingdom for their great support since the beginning of this war.”

He further emphasized that the financial aid would strengthen Ukraine’s defense capabilities and that the debt would be repaid using proceeds from frozen Russian assets.

“The one who started the war must pay,” Zelensky asserted.

The Ukrainian president met with British Prime Minister Keir Starmer in London on Saturday, following unsuccessful negotiations with the United States over a mineral deal due to tensions with Trump.

On Sunday, Zelensky is scheduled to meet King Charles III before attending a high-profile gathering at Lancaster House, a historic venue near Buckingham Palace.

Following his discussions with Zelensky, Prime Minister Starmer also spoke with Trump and French President Emmanuel Macron on Saturday evening, according to the UK Prime Minister’s Office.

Earlier in the day, Zelensky arrived at 10 Downing Street to a warm reception, greeted by cheers from the gathered crowd. Starmer welcomed him with a firm embrace.

“And as you heard from the cheers on the street outside, you have full backing across the United Kingdom,” Starmer told Zelensky.

“We stand with you, with Ukraine, for as long as it may take,” he added.