Contents tagged with UK
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Ukraine secures £752 million from UK in G7 initiative using frozen Russian assets
Ukraine has received the first tranche of funds from the United Kingdom under the G7 initiative, backed by revenues from frozen Russian assets, Ukrainian Prime Minister Denys Shmyhal announced. "Today, we received £752 million as part of the G7 ERA initiative. These funds will be directed towards strengthening Ukraine's defense capabilities," he stated on his Telegram channel on Friday, March 7.
Shmyhal expressed gratitude to the UK government and G7 partners for creating a mechanism that …
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UK commits £1.6 billion for Ukrainian missile defense
London is set to provide Ukraine with an additional £1.6 billion (approximately €1.94 billion) for the procurement of British air defense missiles. This announcement was made by Prime Minister Keir Starmer following the Ukraine summit held in London on March 2.
According to Starmer, the new funds will be allocated as part of export financing, aimed at boosting British exports. With this financial backing, Ukraine will be able to procure over 5,000 anti-aircraft missiles, set to be produced at …
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Ukraine secures a £2.6 billion defense loan from the UK under ERA program
Ukraine's Finance Ministry has announced a monumental financial boost, as part of the Extraordinary Revenue Acceleration (ERA) initiative, designed to be serviced and repaid using profits from frozen Russian assets. This strategic move follows the signing of an Agreement for an emergency loan to Ukraine, amounting to a staggering £2.6 billion (approximately $3.2 billion), aimed at bolstering the nation’s defense capabilities.
The online agreement saw UK Chancellor of the Exchequer, Rachel …
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UK unveils largest-ever sanctions against Russia, targeting illicit revenue and military supply chains
In a major move, UK Foreign Affairs Secretary David Lammy has announced the most extensive package of sanctions against Russia in three years, targeting illicit revenues that are fueling Vladimir Putin's war against Ukraine. The sweeping measures, which focus on Russian kleptocrats, come as the UK government shared details on Monday, February 24.
The sanctions include 107 new measures targeting military supply chains in Russia, specifically those revenues sustaining Putin's illegal war and the …
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UK and Allies pledge 30,000 drones to Ukraine in major European security initiative
In a significant boost to European security, the United Kingdom, alongside Denmark, the Netherlands, Latvia, and Sweden, is set to supply Ukraine with 30,000 drones. The announcement was made by the UK Ministry of Defence on Thursday, January 9.
UK Defence Secretary John Healey, together with Latvia's Defence Minister Andris Spuds, made the announcement during the Ukraine Defense Contact Group Meeting in the Ramstein format held in Germany. This effort comes after the international coalition …
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Europe considers troop deployment to Ukraine amid fears of Trump's return to power
Europe has reopened discussions regarding the deployment of troops to Ukraine. According to a source, London and Paris are engaged in talks focusing on defense cooperation, with a specific emphasis on Ukraine. Both the UK and France are considering leading a foreign military contingent in Ukraine, driven by concerns over the implications of Donald Trump winning the upcoming US presidential election, reports the French newspaper Le Monde.
Currently, discussions on the deployment of Western …
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UK expands sanctions on Russian 'Shadow Fleet' with 30 additional vessels
The UK government added 30 more ships to its sanctions list as part of Russia's "shadow fleet," expanding the total number of sanctioned vessels to 73. This move marks the "largest sanctions package" issued by London targeting tankers and cargo ships used by Russia to bypass oil embargoes and other punitive measures, aimed at funding its ongoing war against Ukraine, British Foreign Secretary David Lammy announced on Monday, November 25. (
The list now includes Russian-flagged vessels such as …
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Ukraine explores deployment of UK's DragonFire laser systems
Ukrainian Defense Minister Rustem Umerov announced that discussions with the United Kingdom are underway regarding the delivery of a new type of weaponry—DragonFire laser weapons. The minister stated that the project to provide DragonFire is in an active development stage, according to Interfax Ukraine.
"We talked about DragonFire. We are actively working on this project," Umerov stated during a television marathon.
He added that the talks covered not only Ukraine's operational needs but also …
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France, Germany and UK condemn Iranian missile delivery to Russia as 'direct threat to European security'
In a coordinated move, the foreign ministers of France, Germany, and the United Kingdom have issued a joint statement condemning the shipment of Iranian ballistic missiles to Russia. The trio denounced the transfers as a "direct threat to European security" and announced immediate measures, including the suspension of bilateral air service agreements with Tehran. They further indicated plans to continue sanctioning significant legal and physical entities and are working towards imposing …
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Russian billionaires acquire stake in UK's largest oil and gas producer
Russian billionaires Mikhail Fridman and Petr Aven have acquired a 15% stake in Harbour Energy, the UK’s largest oil and gas production company, according to a BBC report.
Though the deal grants them a piece of the profits, their company, LetterOne, will not have voting rights. The source also indicates that LetterOne itself is not under Western sanctions, nor is there a direct connection between Fridman, Aven, and the company.
Presently, Harbour Energy stands as one of the leading companies …