Britain is to lend Ukraine an additional £2.26bn and allow Kyiv to spend the money on weapons to fight off the Russian invasion as part of a wider $50bn (£38.5bn) loan programme expected to be confirmed by G7 members later this week.
The loans will be repaid using interest generated by the $300bn of frozen Russian assets held in the west, with the extra funds promised as the US heads towards a presidential election where support for Ukraine is a divisive issue.
Rachel Reeves said: “The profits being made on those assets aren’t being kept for Russia to use in the future. They’re now being used to fund Ukraine.” The chancellor made the announcement alongside the defence secretary, John Healey.
Loans are not aid. They’re war profiteering off the desperate.
If they don’t win then they can’t pay it back. If anything it gives an incentive to lend them more.
The Iron Bank.
If it results in dead vatniks and Russians running the hell back to Russia, than it’s money well spent, ill donate more to the sponsor-a-drone fund today to celebrate.