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8 days ago

UK welcomes EU funding agreement for Ukraine

Chancellor of the Exchequer Rachel Reeves takes part in a town hall session at the Calthorpe Community Gardens, following the Monetary Policy Committee (MPC) announcement that interest rates will be cut from 4 per cent to 3.75 per cent, in London, Britain December 18, 2025.
Chancellor of the Exchequer Rachel Reeves takes part in a town hall session at the Calthorpe Community Gardens, following the Monetary Policy Committee (MPC) announcement that interest rates will be cut from 4 per cent to 3.75 per cent, in London, Britain December 18, 2025. Photo : Lucy North/Pool via REUTERS

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British finance minister Rachel Reeves on Friday welcomed a decision by European Union leaders to loan 90 billion euros ($105 billion) to Ukraine to fund its defence against Russia.

"I am pleased to see the agreement made today at the European Council to provide vital financial support for Ukraine," she said in a post on X.

"We will work with partners to urgently consider options to ensure that Ukraine gets the funding it needs."

EU leaders decided to borrow cash to fund Ukraine's defence against Russia for the next two years rather than use frozen Russian assets, sidestepping divisions over an unprecedented plan to finance Kyiv with Russian sovereign cash.

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