Ukraine receives nearly US$1bn from UK via frozen Russian assets

The United Kingdom transferred £752 million (about US$990 million) to Ukraine on Monday 14 April as part of the G7 loan mechanism involving frozen Russian assets.

As reported by Reuters, this latest UK tranche is the second of three planned payments totalling £2.26 billion (about US$3 billion). The first tranche was made on 6 March and also amounted to £752 million.

The remaining funds are expected to be disbursed in 2026.

"The world is changing before our eyes, reshaped by global instability, including Russian aggression in Ukraine," said UK Chancellor of the Exchequer Rachel Reeves.

In 2024, the G7 agreed to jointly provide Ukraine with a US$50 billion loan using proceeds derived from frozen Russian assets. The funds will be formally provided as a loan but repaid using these proceeds.

At the end of December 2024, Ukraine received the first tranche of the planned $20 billion US contribution, and in January 2025, the first €3 billion from the EU.