The UK is using profits from Russia's frozen assets to offer a $3 billion loan to Ukraine.
About $322 billion of Russian assets were frozen abroad following the invasion of Ukraine.
AdvertisementThe British government is tapping Russia's frozen assets for a loan to Ukraine, with the intention of helping Kyiv secure more military and fund reconstruction costs.
The loan, which amounts to £2.3 billion, or $3 billion, is being provided using profits generated from Russian assets, according to a memo on the UK government website.
AdvertisementAbout $322 billion of Russian assets were frozen abroad as the West imposed sanctions to hobble the Kremlin's war machine following the invasion of Ukraine in 2022.
Persons:
—, John Healey
Organizations:
Service, Bloomberg, UK Defence
Locations:
Ukraine, Kyiv, Europe