UK transfers about 1 billion dollars in frozen Russian assets to Ukraine
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The United Kingdom has transferred 752 million pounds (about 1 billion dollars) in frozen Russian assets to Ukraine, Ukraine's Finance Ministry said April 15.
"Ukraine has received the latest tranche from the United Kingdom in the amount of 752 million pounds sterling (about 1 billion U.S. dollars) as part of the G7 Extraordinary Revenue Acceleration for Ukraine (ERA) initiative," the ministry said in a statement.
Finance Minister Serhiy 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.
The latest payment is part of a broader agreement between the United Kingdom and Ukraine to provide Kyiv with 2.26 billion pounds (about 3 billion dollars) for defense needs. Ukraine previously received two tranches totaling 1.5 billion pounds in March and April 2025 under the agreement.
The assistance is part of the Group of Seven's (G7) ERA initiative, a 50 billion dollar loan program that uses profits from frozen Russian sovereign assets to finance Ukraine and repay the loans.
Since Russia's full-scale invasion in 2022, G7 countries have frozen approximately $300 billion in Russian sovereign assets.
