In the week which marked the third anniversary of the Russian invasion, and following a fiery meeting with the US President and Vice-President, the Ukraine president will attend a summit in Downing Street on Sunday.
The Prime Minister Sir Keir Starmer will chair the gathering of European leaders to discuss a peace effort, having already confirmed that could involve British troops on the ground.
Sir Keir warmly welcomed his Ukrainian counterpart with a hug on Saturday ahead of today’s discussions with other European premiers. The UK confirmed new funding of £2.26 billion while confirming that the Prime Minister is “determined to find a way forward that brings an end to Russia’s illegal war and guarantees Ukraine a lasting peace based on sovereignty and security”.
Prime Minister Keir Starmer said: “Three years on from Russia’s brutal invasion of Ukraine, we are at a turning point. Today I will reaffirm my unwavering support for Ukraine and double down on my commitment to provide capacity, training and aid to Ukraine, putting it in the strongest possible position.
“In partnership with our allies, we must intensify our preparations for the European element of security guarantees, alongside continued discussions with the United States.
“We have an opportunity to come together to ensure a just and lasting peace in Ukraine that secures their sovereignty and security.
“Now is the time for us to unite in order to guarantee the best outcome for Ukraine, protect European security, and secure our collective future.”
The Prime Minister will welcome Italy’s Prime Minister Giorgia Meloni to Downing Street on Sunday morning, before being joined at the summit in central London by the leaders of Ukraine, France, Germany, Denmark, Italy, Netherlands, Norway, Poland, Spain, Canada, Finland, Sweden, Czechia and Romania. The Turkish Foreign Minister, NATO Secretary General and the Presidents of the European Commission and European Council will also attend.
The Prime Minister has said that there can be no negotiations about Ukraine without Ukraine, a determination he repeated when he welcomed President Zelenskyy to Downing Street on Saturday evening ahead of the summit.
Discussions at the summit will focus on:
- Strengthening Ukraine’s position now – including ongoing military support and increased economic pressure on Russia.
- The need for a strong lasting deal that delivers a permanent peace in Ukraine and ensures that Ukraine is able to deter and defend against future Russian attack.
- Next steps on planning for strong security guarantees.
Funding package
This agreement will deliver £2.26 billion in funding to Ukraine, which will be paid back using the extraordinary profits generated on sanctioned Russian sovereign assets held in the EU.
This is the UK’s contribution to the G7 Extraordinary Revenue Acceleration (ERA) Loans to Ukraine scheme, through which G7 countries will collectively provide $50 billion to support Ukraine.
Chancellor of the Exchequer Rachel Reeves said: “A safe and secure Ukraine is a safe and secure United Kingdom. This funding will bolster Ukraine’s armed forces and will put Ukraine in the strongest possible position at a critical juncture in the war.
“It comes as we have increased our defence spending to 2.5% of GDP, which will deliver the stability required to keep us safe and underpin economic growth.”
The loan will be fully earmarked for military procurement to bolster Ukraine’s defences, with the first part of the funding expected to be disbursed to Ukraine next week.
Russia has an obligation under international law to pay for the damage it has caused to Ukraine. The government says this G7 agreement, backed by the profits generated on sanctioned Russian sovereign assets, is an important step to ensuring this happens.
The funding will be delivered in three equal annual amounts of £752m.
The new loan is additional to the £3 billion a year commitment by the UK to provide military aid for Ukraine. The Prime Minister says he has been clear that a strong Ukraine is vital to UK national security.
Picture below: Foreign Secretary David Lammy meets with Ukraine’s Minister for Foreign Affairs Andrii Sybiha at Carlton Gardens. Picture by Lauren Hurley / No 10 Downing Street 1 March 2025
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