Ukrainian President Volodymyr Zelensky said on Saturday that a £2.26 billion ($2.84 billion) loan from the UK will be used for weapon production in Ukraine. This comes just a day after blowout with US President Donald Trump and Vice President JD Vance in the Oval office over American support for Ukraine.
The loan agreement was signed by UK Chancellor Rachel Reeves and Ukraine’s Finance Minister Sergii Marchenko. The first installment is expected next week.
Britain said the loan will be funded by profits from frozen Russian assets. This is part of a $50 billion support package pledged by the G-7 nations.
Zelensky thanked the UK for its continued support since the war began.
“The funds will be directed toward weapons production in Ukraine,” Zelensky said on X. “I thank the people and the government of the United Kingdom for their great support since the beginning of this war.”
He added, “Today, in our presence, a loan agreement was signed between Ukraine and Great Britain. A loan to strengthen our defense capabilities, which will be repaid from the income received from frozen Russian assets. The money will go to the production of weapons in Ukraine. That’s just: the one who started the war must pay.”
London. A meaningful and warm meeting with Prime Minister .
During our talks, we discussed the challenges facing Ukraine and all of Europe, coordination with partners, concrete steps to strengthen Ukraine’s position, and ending the war with a just peace, along with…
— Volodymyr Zelenskyy / Володимир Зеленський (@ZelenskyyUa)
Zelensky met British Prime Minister Keir Starmer in London on Saturday after he failed to secure the mineral deal with the US after spat with Donald Trump.
On Sunday, he will meet King Charles III before attending a meeting at Lancaster House, a historic mansion near Buckingham Palace.
Starmer also spoke with Trump and French President Emmanuel Macron on Saturday evening after meeting Zelensky, according to the UK Prime Minister’s Office.
Earlier, Zelensky arrived at 10 Downing Street, where he was greeted with cheers from the crowd. Starmer embraced him in a firm hug.
“And as you heard from the cheers on the street outside, you have full backing across the United Kingdom,” Starmer told Zelensky.
“We stand with you, with Ukraine, for as long as it may take,” he added.
(With AP inputs)
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