Ukraine has received the second tranche of financial assistance from the United Kingdom in the amount of GBP 752 million (nearly USD 1 billion). The funds were provided under the G7 Extraordinary Revenue Acceleration for Ukraine (ERA) initiative, which channels revenues from frozen russian assets to support Ukraine.

On March 1, 2025, Ukraine’s Minister of Finance Sergii Marchenko and UK Chancellor of the Exchequer Rachel Reeves signed an agreement to provide Ukraine with a total of GBP 2.26 billion (approximately USD 3 billion) to strengthen the country’s defense capabilities.

The first tranche, also amounting to GBP 752 million, was transferred on March 7, 2025. With the latest disbursement, Ukraine has now received a total of GBP 1.5 billion under this agreement.

The financing is provided on a 30-year term. The loan will be serviced and repaid using future revenues generated from immobilized russian sovereign assets.

“I am grateful to the UK Government for its unwavering support of Ukraine in the fight against russian aggression. These funds are targeted and will be used to cover security and defense expenditures,” said Minister of Finance of Ukraine Sergii Marchenko.

Additional information

This financial assistance is part of the G7’s decision to launch the Extraordinary Revenue Acceleration Loans for Ukraine mechanism, with a total volume of up to USD 50 billion.