The UK wants to join the EU’s $106 billion loan for Ukraine
This is reported by Reuters, citing the UK government.
The UK is preparing to begin negotiations on joining the European Union’s loan for Ukraine.
The loan is worth £78 billion, or around $106 billion.
According to the British government, Prime Minister Keir Starmer is set to announce London’s intention to work alongside the EU to support Ukraine.
He will make this announcement at the European Political Community summit in Yerevan.
This format was established following Russia’s full-scale invasion of Ukraine in 2022.
The aim of the talks is to support Ukraine in obtaining critically needed military equipment.
The EU loan was approved last month.
It is intended to cover two-thirds of Ukraine’s needs for the next two years.
The bulk of these funds is planned to be directed towards military expenditure, as Ukraine continues to defend itself against the Russian war.
The British government has noted that the additional funding could also open up opportunities for British businesses.
This primarily concerns companies in the defence sector, which can help meet Ukraine’s urgent needs.
New sanctions against Russian companies
The UK also plans to announce a new package of sanctions against Russian companies this week.
The government has described these restrictions as “painful sanctions”.
Their aim is to disrupt Russia’s military supply chains.
Britain has already imposed wide-ranging sanctions against Russia following the outbreak of full-scale war in 2022.
The new package is intended to be a continuation of this policy.
European defence and US pressure
Starmer’s visit to Armenia will be the first visit by a British leader to the country since Margaret Thatcher in 1990.
The trip comes at a time when Donald Trump’s administration is stepping up pressure on Europe.
Washington is calling on European countries to take greater responsibility for the continent’s defence.
Additional pressure on Germany, France and the UK emerged after these countries refused to join the US and Israel in their war against Iran.
Starmer stated that cooperation between the UK and the EU benefits all parties.
“When the UK and the European Union work together, we all benefit – and in these turbulent times, we need to move further and faster on defence to ensure people’s safety,” he said.
Sturmer had previously called for stronger defence integration in Europe.
He also spoke of the need to reduce NATO’s excessive dependence on the US.
According to Reuters, this could mean further alignment of the UK with the EU single market and deeper economic integration six years after Brexit.
As reported by ThePublic, the European Union will provide Ukraine with the first defence tranche under a €90 billion loan programme as early as the second quarter of 2026. The funds will be used to purchase Ukrainian drones.
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