Zelensky welcomed in UK as £2.26bn loan signed

International Desk Published: 2 March 2025, 09:22 AM
Zelensky welcomed in UK as £2.26bn loan signed
Britain's Prime Minister Keir Starmer shakes hands with Ukraine's President Volodymyr Zelensky during a bilateral meeting in central London on March 1, 2025 ahead of a European leader's summit the following day.—AFP photo

The UK and Ukraine on Saturday signed a loan agreement worth £2.26 billion ($2.84 billion, 2.74 billion euros) to support Ukraine's defence capabilities, which London called a sign of "our unwavering and ongoing support for the Ukrainian people".

The two countries' finance ministers, Rachel Reeves and Sergii Marchenko, signed the loan at a virtual ceremony as Prime Minister Keir Starmer met President Volodymyr Zelensky in London. It is to be paid back with the profits of immobilised sovereign Russian assets.

Earlier, Starmer gave Zelensky a warm welcome to his Downing Street office, a day after Zelensky’s clash with US President Donald Trump. Supporters cheered as Zelensky’s convoy arrived at Downing Street, where he was embraced by Starmer and posed for photographs before entering the Prime Minister's residence.

"You're very, very welcome here in Downing Street," Starmer told Zelensky.

"And as you've heard from the cheers street outside, you have full backing across the United Kingdom, and we stand with you with Ukraine for as long as it may take."

Starmer said both leaders wanted to achieve "a lasting peace for Ukraine, based on sovereignty and security for Ukraine -- so important for Europe and so important for the United Kingdom".

Zelensky responded that had seen the hundreds of supporters gathered outside Downing Street.

"I want to thank you, the people of the United Kingdom, for such big support from the very beginning of this war," he added.

"I'm very happy that his majesty the king accepted my meeting tomorrow and we are very happy in Ukraine that we have such a strategic partner.

"We count on your support."

The pair met behind closed doors for around 75 minutes, and embraced again as Starmer escorted Zelensky to his car.

During the meeting, Starmer "reiterated his unwavering support for Ukraine, adding that the UK will always stand with them, for as long as it takes", according to a Downing Street statement.

"The prime minister re-stated his determination to finding a path that ends Russia's illegal war and ensures a just and lasting peace that secures Ukraine's future sovereignty and security," it added.

Source: AFP