The interest payments are starting to come in from all those frozen Russian assets the European Union (EU) is holding hostage. And the United Kingdom plans to spend its interest windfall on Ukraine.
According to reports, Great Britain is planning to send another $2.93 billion to the Zelensky regime, bumping the total G7 spending spree on Kyiv so far up to $50 billion.
Defence Secretary John Healey said the extra billions will help Ukraine bolster its frontline military equipment, describing the cash transfer in terms of "turning the proceeds of Putin's own corrupt regime against him by putting it into the hands of Ukraine."
The goal is to release the money as quickly as possible so there are no hitches, said Chancellor Rachel Reeves. Zelensky will receive the money in the form of a "loan" that the UK will recoup the cost of via sanctions on Russian assets – "within the correct legal framework," officials claim.
To try to avoid controversy, Reeves added the caveat that the UK is not confiscating sovereign Russian assets in Europe but rather using the profits and interest accrued from them to keep the Ukrainian war machine running.
Entire G7 planning to fund Ukraine using profits, interest accrued from Russian assets
In the coming weeks, the other G7 countries (Canada, France, Germany, Italy, Japan, the United States and the EU as a "non-encumbered member") are planning to do the same thing so Zelensky is flush with cash into the foreseeable future.
Some of the payments will be made in installments rather than as a one-lump sum, though this latest $2.93 billion cash infusion will be paid all at once so Zelensky can start spending it immediately.
Some of the nations that plan to send more cash to Ukraine are expecting it to be used to reconstruct the damaged portions of the regime, though Kiev will have the final say on how to spend the money.
According to Healey, Ukraine will likely use some of the money to buy more critical military equipment such as air defenses and ammunition.
Thus far, the UK has sent nearly $16 billion to Ukraine since the start of the war. It is planning to match that same amount of support in the future, meaning this is a long-term money laundering "investment" scheme to keep Ukraine in existence at all costs.
Reeves reiterated to the media that the UK's support for Ukraine is "unwavering and will remain for as long as it takes."
The appearance of Healey and Reeves together to make this announcement suggests the two plan to work together on a budget that suits both of their interests. Their shared support for Ukraine is a point of bonding, after all.
When asked about the UK's defense spending, Reeves stated that the British government has committed to spending about 2.5 percent of the nation's GDP (gross domestic product), though no timeline was specified. The chancellor indicated that she has nothing further to say about the upcoming budget.
"The UK's £2.26 billion loan is earmarked as budgetary support for Ukraine's military spending, enabling the Ukrainians to invest in key equipment to support their efforts against Russia, such as air defence, artillery and wider equipment support," the UK government website explains about how this all will work.
"It comes on top of the UK's existing £3 billion a year military aid for Ukraine, which the Prime Minister re-committed to within his first week in office."
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