Russian money will serve Ukraine: UK approves £2.26bn loan to Ukraine to be repaid from aggressor country's funds

UK approves more than £2bn arms loan to Ukraine.

Here's What We Know

The funds will be provided from the proceeds of Russian Central Bank assets that have been frozen since the start of Russia's full-scale invasion. They amount to around €260bn in cash, securities and other assets.

The UK will lend Ukraine £2.26bn ($2.9bn), which will be used to buy air defence and artillery systems and everything needed to counter Russian aggression.

The loan is part of a large-scale programme of the G7 countries, which plans to allocate $50bn for the country's military and budgetary needs, as well as for the reconstruction of destroyed facilities.

The fact that the loan will be repaid with interest from Russian accounts means that Ukraine will not have to worry about repaying it.

The aid is in addition to Britain's existing £3bn a year military support for Ukraine.

Source: British government press service