British PM Starmer announces new $2 billion funding for Ukraine's air-defence missiles

The United Kingdom on Saturday announced a £2.26 billion ($2.84 billion) loan to Ukraine aimed at bolstering Kyiv's defence industry.

Updated on: Mar 3, 2025, 06:41:33 IST

By HT News Desk

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The UK will provide Ukraine with a new £1.6 billion ($2 billion) export finance package to strengthen its defences, allowing the purchase of 5,000 air-defence missiles, British Prime Minister Keir Starmer announced on Sunday.

Keir Starmer, UK prime minister, speaks during a news conference following a summit in London, UK, on Sunday, March 2, 2025. (Bloomberg)

Starmer urged European powers to move beyond discussions and take decisive action, following a defence summit on Ukraine. He warned that the West stands at a “crossroads in history.”

Speaking at Lancaster House in central London, Keir Starmer also called on European leaders to join a “coalition of the willing” alongside Britain and France to help maintain stability if the war in Ukraine reaches a negotiated settlement.

Britain hosted a summit of European leaders on Sunday to reinforce support for Ukrainian President Volodymyr Zelensky after his heated Oval Office exchange with US President Donald Trump raised questions about their alliance.

The London summit took on added importance as leaders aimed to strengthen support for Ukraine and reinforce Europe’s defences. It followed renewed uncertainty over US backing after President Donald Trump criticised Ukrainian President Volodymyr Zelensky for not showing enough gratitude for American aid.

UK, France and Ukraine discuss ceasefire proposal

British Prime Minister Keir Starmer, who welcomed over a dozen leaders and officials, embraced Zelensky upon his arrival, reaffirming his commitment to ending Russia’s war on Ukraine.

Starmer announced that Britain, France, and Ukraine had agreed to develop a ceasefire plan to present to the United States. He said the proposal emerged from discussions among the leaders following the White House dispute.

The United Kingdom on Saturday announced a £2.26 billion ($2.84 billion) loan to Ukraine aimed at bolstering Kyiv's defence industry.

The loan agreement was signed by UK chancellor Rachel Reeves and Ukraine's finance minister Sergii Marchenko, with the first tranche expected next week.

Britain said the loan to Kyiv would be funded by profits from frozen Russian assets as part of a $50 billion support package pledged by the G-7 nations.

Zelensky thanked the UK government for its ongoing support since the war's start.

With agencies inputs

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