UK transfers about 1 billion dollars in frozen Russian assets to Ukraine
The Kyiv Independent • • world
Key Points:
- The United Kingdom has transferred 752 million pounds (approximately 1 billion USD) in frozen Russian assets to Ukraine as part of the G7 Extraordinary Revenue Acceleration for Ukraine (ERA) initiative.
- Ukraine's Finance Minister Serhiy Marchenko stated the funds will address urgent security and defense needs amid ongoing Russian aggression.
- This payment is part of a broader UK-Ukraine agreement totaling 2.26 billion pounds (around 3 billion USD) for Ukraine's defense, with previous tranches of 1.5 billion pounds delivered earlier in 2025.
- The ERA initiative, backed by the Group of Seven, is a 50 billion dollar loan program that utilizes profits from frozen Russian sovereign assets to support Ukraine and repay loans.
