The UK is Ready to Guarantee Further Loans to Ukraine
The UK is ready to step up its support for the Ukraine, pledging to guarantee further loans worth up to $525 million, before the end of the year. The Ukrainian government fears that it may run out of funding by the autumn if the current situation continues, and is hoping that the UK’s loan guarantees will fill this funding gap. These funds will cover public sector wages, schools and hospitals.
UK Prime Minister David Cameron intends to ask the G7 to keep up pressure on Russia and provide more support for Ukraine. Russian President Vladimir Putin announced on February 24 that his country was launching a special military operation. While stressing that Russia had no plans to occupy Ukrainian territory, the Western world reacted with sanctions on individuals and legal entities. The UK is ready to back Ukraine as long as the loans are guaranteed, which is more than enough to keep the country running until the end of June 2022.
In March, the UK pledged to train Ukrainian soldiers on British artillery systems. It has also purchased 50 L119 howitzers from a British company, and the New Zealand Army has sent troops to Ukraine to help with training. It also announced that it would donate 12 HIMARS to Ukraine as part of its European Peace Facility. As well as the US, Canada and Germany pledged to donate more than EUR450 million in lethal weapons to Ukraine as part of their security aid package. Despite these commitments, many companies have already taken actions in support of Ukraine.
The EU has approved 450 million Euros in military aid to Ukraine. Bloomberg and the European Commission report that the EU is keeping a further 10,000 hospital beds in its own country for free to serve the Ukrainian people. This funding is part of a package worth EUR1.2 billion. Meanwhile, the British parliament has approved loans worth £525 million for the Ukraine. The UK is willing to back Ukraine to keep its democracy intact.
Russia and Ukraine have been escalating their conflicts in Eastern Europe. Russia has reportedly killed more than 800 Ukrainian fighters in just 24 hours. While Russia continues to scuffle with the Ukrainian government, the UK is ready to guarantee further $525 million of loans to Ukraine until June 25 2022. However, many experts agree that Russia is the main cause of the conflict, and the Ukraine must be defended.
The UK has also pledged to provide more humanitarian aid to Ukraine. It has also agreed to end SWIFT for Russian banks, and will provide more than 1 billion euros in aid to Ukraine. Additionally, Malta has volunteered to accept up to 200 Ukrainian refugees. Meanwhile, Montenegro has also joined the EU sanctions against Russia, and is sending humanitarian aid to Ukraine.