The U.K. will give Ukraine a £2.26 billion ($2.93 billion) loan to be paid back using the extraordinary profits on Russian frozen assets, The Telegraph writes.
According to the newspaper, the U.K. will have a veto over what military equipment the Ukrainians can spend the loan on. As part of the G7 Extraordinary Revenue Acceleration (ERA) Loans to Ukraine scheme—a commitment by G7 countries to provide Kyiv with $50 billion (£39 billion)—the U.K. will give Ukraine a £2.26 billion loan to be paid back using the extraordinary profits on frozen Russian assets. G7 finance ministers are expected to announce this week how the funds will be distributed among members of the club of economically developed countries.
