Ukraine and the United Kingdom have made a projected agreement on the use of overcomes from frozen Russian assets to strengthen the state's defense capability. The agreement is signed as an Extraordinary Revenue Acceleration initiative and provides for $ 2025-2026.
This was reported by the Ministry of Defense of Ukraine on May 27.
According to the First Deputy Minister of Defense Sergei Boev, this funding has not only practical but also of fundamental value. Advantages from Russian assets are aimed at increasing Ukrainian defense in response to aggression and recognizing the right of Ukraine to defense.
According to the agreement, the received funds will be used for the purchase of defense products of foreign production, repair and maintenance of military equipment, the sale of joint projects with the participation of Ukrainian and international defense companies, as well as for the purchase of critical materials, including Ukrainian production.
The Deputy Minister for Strategic Industry David Aloyan noted that the potential of Ukrainian defense enterprises is $ 35 billion, but because of the lack of funds they cannot be fully used. The received financing will be a significant increase for the production and repair capacity of the defense-industrial complex.
The Ukrainian side expressed gratitude to the UK government for providing financial support and for assistance in the development of weapons production in Ukraine.
