UK hops on EU's Ukraine financing train

UK hops on EU's Ukraine financing train The announcement was made against the backdrop of Starmer’s participation in a summit of the Coalition of the Willing in ParisLONDON, July 13. /TASS/. The UK government has reached agreement with the European Union leadership on being a part of the 90-billion-euro defense loan to Ukraine, the office of UK Prime Minister Keir Starmer said in a statement. "Through the scheme, UK defence companies will be eligible to bid for procurement contracts funded by the loan, unlocking billions in potential investment, supporting skilled jobs across the country and strengthening the UK’s world-leading defence industrial base. The UK’s contribution to the initiative will be proportionate to the value of contracts secured by British industry," the statement reads. The announcement was made against the backdrop of Starmer’s participation in a summit of the Coalition of the Willing in Paris. European Commission President Ursula von der Leyen wrote on the X social network that the UK’s membership "will give Ukraine access to a wider range of defense suppliers." The Ukraine Support Loan is an initiative to provide financial assistance for military purposes worth 90 billion euro to Ukraine in 2026-2027 was announced in December 2025. A total of 30 billion euro will be allocated to finance Kiev’s budgetary needs, while the other 60 billion will be earmarked for military expenditures. The program came into existence as a replacement for the European Commission’s failed plan to use immobilized Russian assets for Kiev’s military needs. The money will be drawn in the form of a European loan, to be repaid by EU countries. Kiev is only obligated to repay the debt if Russia formally agrees to pay reparations in full. Earlier, representative for the European Commission Thomas Rainier explained that Brussels' military financing program for Ukraine includes an article titled "buy European." This provision obliges Ukraine to submit all contracts for the purchase of weapons with this money to the European Commission for approval, and only if the types of weapons needed by Kiev or their substitutes are not available in Europe can the European Commission grant Ukraine the right to order them from suppliers in other countries. 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