UK Transfers $1 Billion To Ukraine Over Frozen Russian Assets

• 16.04.2026, 16:31

The funds will be used for military purposes.

Ukraine has received the latest tranche of £752 million (about $1 billion) from the UK as part of the G7 Extraordinary Revenue Acceleration for Ukraine (ERA) initiative.

The Ukrainian Finance Ministry said this, European Pravda reports.

The funds will be used to strengthen Ukraine's defense capabilities.

"I am grateful to the UK government for its consistent and decisive support to Ukraine in countering Russian aggression already in the fifth year of full-scale war. The provided funding is earmarked and will be aimed at ensuring priority needs of the security and defense sector," stressed Finance Minister Sergey Marchenko.

The ministry recalled that on March 1, 2025, Ukrainian Finance Minister Sergiy Marchenko and his British counterpart Rachel Reeves signed an agreement to provide Ukraine with £2.26 billion (about $3 billion) for defense needs.

The first two tranches totaling £1.5 billion were received by Ukraine in March and April 2025.

The G7 member states' Extraordinary Revenue Acceleration for Ukraine (ERA) mechanism of up to $50 billion provides Ukraine with a loan that is repaid from the proceeds of frozen Russian sovereign assets.

In 2024-2025, G7 countries and the EU have already provided Ukraine with nearly $28 billion in ERA funding.