Ukraine continues to be supported in its fight against Russian invaders by providing funds and military equipment. In particular, at the G7 Summit the UK will announce bilateral assistance to Ukraine in the amount of more than $300 million, which will be used to support urgent humanitarian, energy, and stabilization needs.
This is stated on the website of the British government.
"This funding demonstrates the UK’s continued international solidarity with Ukraine, and our flexibility in responding to immediate needs created by Russian aggression. Critical energy infrastructure, for example, has suffered from an intense Russian missile and bombing campaign over the past few months," the statement said.
The priority for the PM at the Summit will be to work with partners to agree on ways to use frozen Russian assets to support Ukraine. Last month, the Chancellor attended the G7 Finance Ministers and Central Bank Governors meeting, where the G7 discussed potential avenues to bring forward the extraordinary profits stemming from these assets, to the benefit of Ukraine.
The leaders of the UK and the G7 countries have firmly stated that Russia must compensate Ukraine for the damage it has caused. They plan to consider all legal ways to use frozen Russian assets to support Ukraine. Assets under the jurisdiction of the G7 countries are estimated at $285 billion.
It is worth noting that the UK became the first country to introduce legislation that allows sanctions to remain in place until Russia pays for the damage it has caused. In addition, new powers have been introduced to force sanctioned individuals and organizations to disclose assets they hold in the UK.
"We must be decisive and creative in our efforts to support Ukraine and end Putin’s illegal war at this critical moment. The UK remains at the forefront of the international response as we have been from the outset. We must move from ‘as long as it takes’ to ‘whatever it takes’ if we are to end this illegal war. From Ukraine to the Middle East, we will be discussing significant global threats at the Summit. Such threats are why it is so vital to strengthen the UK’s national defence, through our commitment to spend 2.5% of GDP on defence by 2030," Prime Minister Rishi Sunak emphasized.
Earlier we wrote that Ukraine has fulfilled all the conditions for EU accession.