**UK Transfers £752 Million to Ukraine for Air Defense and Artillery**
The United Kingdom has made a significant move to support Ukraine’s defense efforts by transferring 752 million pounds (around $990 million) on April 14. This amount is part of the G7 loan covered by Russian assets, which was pledged to help Ukraine purchase air defense and artillery systems.
**A Larger Pledge from the UK**
This installment is just one-third of the total pledge made by the UK under the G7’s Extraordinary Revenue Acceleration scheme. The UK has committed to lending 2.26 billion pounds (around $2.9 billion) in three equal installments, with the first part being received on March 6, 2025. The final installment is expected to be paid out in 2026.
**Comment from British Finance Minister**
In a statement, British Finance Minister Rachel Reeves highlighted the changing global landscape and the need for collective support. She noted that “the world is changing before our eyes, reshaped by global instability, including Russian aggression in Ukraine.” Her comments reflect the ongoing impact of the war on international relations.
**Background: The G7’s Extraordinary Revenue Acceleration Scheme**
The $50 billion loan scheme was initiated by the G7 countries to support Ukraine’s defense needs and recovery. This massive financial commitment is backed by $300 billion in Russian sovereign assets, which were immobilized at the start of the full-scale war in 2022. The funds are expected to be repaid from the proceeds generated by these frozen assets.
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