The United Kingdom has used frozen Russian assets to fund £1 billion (€1 bn) in military aid to Ukraine, the British defense secretary said during his visit to Kyiv on Wednesday.
According to officials, money raised from immobilized Russian wealth has “enabled the delivery of hundreds of thousands of rounds of artillery ammunition, hundreds of air defense missiles, spare parts, and new support contracts to help maintain and repair its equipment and vehicles.”
This military support for Ukraine is financed through a £2.26 billion (€2.6 bn) loan provided by the UK government under a special fund. The loan is being repaid with proceeds from assets frozen in response to Russia’s invasion of its neighbor.
During his fifth visit to Kyiv on Wednesday, UK Defense Secretary John Healey co-chaired a virtual meeting of the so-called ‘coalition of the willing,’ attended by representatives from more than 30 countries.
The discussions focused on military contributions to potential multinational forces that could be deployed to Ukraine if a peace agreement with Russia is reached. French President Emmanuel Macron said on Wednesday evening that security guarantees for Ukraine were ready and will be endorsed on Thursday by the coalition’s members during a meeting in Paris.
Healey said that his government “is reviewing readiness levels of UK Armed Forces and accelerating funding to be ready for any deployment to Ukraine.”
Healey also met with his Ukrainian counterpart Denys Shmyhal to discuss the recent increase in the UK’s direct military support for Ukraine, following his call earlier this summer for allies and partners to take part in a 50-day effort to accelerate the delivery of weapons and ammunition to strengthen Ukraine’s position.
British defense officials said they have delivered 4.7 million rounds of small arms ammunition for Ukraine’s soldiers during the last 50 days, along with 60,000 artillery shells, rockets and missiles, more than 2,500 drones and 30 vehicles.
Healey also highlighted London’s increased defense industry cooperation with Ukraine under the 100-year partnership agreement signed in January.