14 Apr, 16:27

London sends Ukraine second tranche of loan from frozen Russian assets

The sum of the tranche is 752 million pounds ($990 million), which will be used to purchase air defense systems and artillery

LONDON, April 14. /TASS/. London has sent Ukraine the second tranche of a loan from frozen Russian assets, Reuters reported citing the UK HM Treasury.

The sum of the tranche is 752 million pounds ($990 million), which will be used to purchase air defense systems and artillery.

UK Chancellor of the Exchequer Rachel Reeves said in March that the loan would amount to 2.26 billion pounds ($3 billion). The first tranche was issued on March 6 and the last one is scheduled for next year, the agency noted.

In October 2024, G7 leaders agreed to provide Ukraine with a $50 billion loan using interest earned from frozen Russian assets. The United States undertook to send $20 billion, with the rest of the sum coming from the G7 and EU. Following this move, Russian presidential press secretary Dmitry Peskov said that Russia will take legal action if the proceeds from its assets are used for Ukraine.

The United Kingdom has frozen 25 billion pounds ($33 billion) of Russian assets since the beginning of Russia’s special military operation in February 2022.

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