Great Britain will direct profits from frozen Russian assets to support Ukraine's defense industry

The United Kingdom will direct money from the Extraordinary Revenue Acceleration (ERA) initiative to arm and repair equipment for Ukraine, according to a statement from the Ministry of Defence of Ukraine.

The relevant agreement on the use of excess profits from frozen Russian assets within the framework of the ERA was signed by the Ministry of Defense of Ukraine, the Ministry for Strategic Industries, and the Ministry of Defense of the United Kingdom.

According to the agreement, during 2025–2026, Ukraine will receive $ 3 billion. The money will be directed to:

- procurement of foreign-made defense products;

- repair and maintenance of military equipment;

- implementation of joint projects with the participation of Ukrainian and international defense companies;

- procurement of other critically important materials, including Ukrainian-made products.

The Ministry of Defense recalled that the ERA initiative is a joint program of the G7 countries aimed at supporting Ukraine. Its essence is to use the profits from frozen Russian assets to repay loans that the G7 countries provide to Ukraine.

The total amount of the program is $50 billion, part of which will be used to meet defense needs.