The UK will allocate $3B of the profits from frozen Russian assets to support Ukraine.

Ukraine and the United Kingdom have signed a project agreement regarding the use of excess profits from frozen Russian assets as part of the ERA initiative for the armament and repair of military equipment. Consequently, during 2025-2026 Ukraine will receive $3B. The funds will be directed to:

1. The procurement of foreign-made defense products
2. The repair and maintenance of military equipment
3. The implementation of joint projects with the participation of Ukrainian and international defense companies
4. The procurement of other critically important materials, including Ukrainian-made products
5. These resources are also intended for the repair and maintenance of military equipment, including joint projects undertaken by Ukrainian and foreign defense companies.

 “Our enterprises have a capacity of $35B, but the budget is not enough to secure an order for such an amount. Therefore, attracting excess profits from frozen Russian assets will be a significant boost for the production and repair capacities of the Ukrainian defense industry,” said Deputy Minister for Strategic Industries David Aloyan.