Dec 21, 2025 12:49 AM
https://www.kyivpost.com/post/66650
INTRO: The UK has backed down from earlier pledges to tap frozen Russian funds to aid Ukraine, after similar plans in the EU faltered.
On Thursday, EU leaders agreed to provide Kyiv with a €90 billion ($105 billion) loan to cover its 2026-27 financing needs but stopped short of using frozen Russian assets via the planned reparations loan, which would have allowed repayment only if Russia compensated for war damages.
On Friday, UK officials said they would not tap into the £8 billion ($11 billion) frozen Russian assets in the UK to aid Ukraine as planned after similar plans stalled in the EU, according to the Financial Times (FT).
“We won’t move without international partners,” a government spokesperson said, adding that London would “continue to work closely with the G7 and EU on Ukraine financing.”
But Chancellor of the Exchequer Rachel Reeves has vowed “ironclad” support for Kyiv despite the backtracking, adding that London would work “urgently” to secure funding for Kyiv with partners.
The FT noted that London will advance $2 billion in World Bank guarantees to cover Ukraine’s immediate 2026 financing needs, alongside its ongoing £3 billion ($4 billion) annual military support.
The outlet, citing its earlier article, also reported legal concerns raised by the UK banks holding the assets regarding potential retaliation from Moscow... (MORE - details)
INTRO: The UK has backed down from earlier pledges to tap frozen Russian funds to aid Ukraine, after similar plans in the EU faltered.
On Thursday, EU leaders agreed to provide Kyiv with a €90 billion ($105 billion) loan to cover its 2026-27 financing needs but stopped short of using frozen Russian assets via the planned reparations loan, which would have allowed repayment only if Russia compensated for war damages.
On Friday, UK officials said they would not tap into the £8 billion ($11 billion) frozen Russian assets in the UK to aid Ukraine as planned after similar plans stalled in the EU, according to the Financial Times (FT).
“We won’t move without international partners,” a government spokesperson said, adding that London would “continue to work closely with the G7 and EU on Ukraine financing.”
But Chancellor of the Exchequer Rachel Reeves has vowed “ironclad” support for Kyiv despite the backtracking, adding that London would work “urgently” to secure funding for Kyiv with partners.
The FT noted that London will advance $2 billion in World Bank guarantees to cover Ukraine’s immediate 2026 financing needs, alongside its ongoing £3 billion ($4 billion) annual military support.
The outlet, citing its earlier article, also reported legal concerns raised by the UK banks holding the assets regarding potential retaliation from Moscow... (MORE - details)
