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:
- The procurement of foreign-made defense products
- The repair and maintenance of military equipment
- The implementation of joint projects with the participation of Ukrainian and international defense companies
- The procurement of other critically important materials, including Ukrainian-made products
- 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.