UK contributes around $1 billion to Ukraine under G7 Russian asset-backed loan program
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Editor’s note: This article was corrected on April 18, 2026. An earlier version incorrectly stated that the U.K. had transferred £752 million (about $1 billion) in frozen Russian assets to Ukraine.
The United Kingdom contributed 752 million pounds (around $1 billion) in frozen Russian assets to Ukraine under the Group of Seven’s Extraordinary Revenue Acceleration initiative, a loan program financed by profits generated from immobilized Russian assets.
"Ukraine has received the latest tranche from the United Kingdom in the amount of 752 million pounds sterling ($1 billion) as part of the G7 Extraordinary Revenue Acceleration for Ukraine (ERA) initiative," Ukraine Finance Ministry said in a statement.
Finance Minister Serhii Marchenko said the funding would address urgent needs in Ukraine's security and defense sector.
"I am grateful to the Government of the United Kingdom for its consistent and resolute support for Ukraine in countering Russian aggression in the fifth year of full-scale war. The funding provided is targeted and will be directed to meeting the priority needs of the security and defense sector," Marchenko said.
After the start of Russia's full-scale invasion in 2022, G7 countries froze approximately $300 billion in Russian sovereign assets.
While outright seizure and transfer of those assets to Ukraine has been politically and legally challenging, the G7 agreed on the ERA loan program in 2024 — a $50 billion initiative backed by profits generated from those immobilized assets to support Ukraine and service the loans.
The latest payment from the U.K was part of a broader agreement between the U.K. and Ukraine to provide Kyiv with 2.26 billion pounds (around $3 billion) for defense needs. Ukraine previously received two tranches totaling 1.5 billion pounds in March and April 2025 under the agreement.
