♏Following the intense argument between US President Donald Trump and Ukrainian President Volodymyr Zelenskyy, Ukraine and the UK have signed a key loan deal. As the war in Ukraine rages on, Zelenskyy received a warm welcome from UK PM Sir Keir Starmer in London, who reaffirmed "full backing" for Kyiv.
The agreement, which follows the spat at the Oval Office♕, focuses on strengthening Ukraine's defense capabilities. The loan deal was finalised by the respective finance ministers of the countries while Zelenskyy and Starmer held discussions in London.
💮"This agreement will deliver £2.26 billion in funding to Ukraine, which will be paid back using the extraordinary profits generated on sanctioned Russian sovereign assets held in the EU," reads the official statement issued by the UK government.
🤪"This is the UK’s contribution to the G7 Extraordinary Revenue Acceleration (ERA) Loans to Ukraine scheme, through which G7 countries will collectively provide $50 billion to support Ukraine," it added further.
🎃As per UK's finance minister Rachel Reeves, the funding for Ukraine will be delivered in three equal annual payments of 752 million pounds.
💛Furthermore, this loan agreement comes on top of the annual three billion committed by London for military aid in Ukraine.
🐭Responding to the deal between Ukraine and the UK, Zelenskyy stated that it was "true justice. The one who started the war must be the one to pay," as the agreement is backed by the profits generated on sanctions against Russian assets in G7 countries.
🔯This deal between the UK and Ukraine also comes after PM Starmer announced that the government will increase its defense spending to 2.5 percent of the GDP by 2027 and ultimately reach three percent.
