Britain to join EU loan for weapons for Ukraine — The Times
The United Kingdom will be able to participate in arms purchases for Ukraine under the EU’s loan program. The European Union will allow London to join the €90 billion loan program, though its participation in the mechanism will be limited.
The program is expected to help Ukraine purchase up to €60 billion worth of weapons over the next year.
However, under current EU rules, British companies can only bid on contracts that EU manufacturers cannot fulfill.
British ministers want to negotiate broader access so that their companies can compete on equal terms.
EU Brexit Commissioner Maroš Šefčovič stated that the EU is open to greater British participation in this program as part of a broader “reset” of relations. According to him, this could be beneficial to both sides.
Britain’s contribution is likely to be around £390 million (€455 million), but the final amount has not yet been agreed upon.
A source at The Times confirmed that Britain is negotiating to join the Ukraine loan program. EU officials have no objections to British defense companies participating in tenders for Ukraine-bound procurement funded by the loan.
The terms of the loan stipulate that Britain will pay its “fair share” of interest—about €3 billion per year.
Why Britainisn’t detaining Russian tankers in the English Channel — The Telegraph.
Britainhas deployed troops due to the threat of Russian attacks on undersea infrastructure.
Britain is convening 35 countries for talks on unblocking the Strait of Hormuz without the U.S.
British Ambassador to Ukraine Neil Crompton stated that the issue of using frozen Russian assets to support Ukraine remains relevant.
