London has pledged a new $2.84 billion loan to Kiev, with hopes of using profits from frozen Russian assets to finance it.
British Prime Minister Keir Starmer warmly welcomed Ukrainian President Vladimir Zelensky in London, assuring him of the UK’s continued and unwavering support “as long as it takes.” This meeting followed a more difficult encounter between Zelensky and US President Donald Trump.
The White House meeting between Trump and Zelensky, intended to finalize a minerals agreement, reportedly became tense. Zelensky insisted on increased US support for Kiev rather than Washington acting as a neutral mediator with Moscow.
Trump allegedly accused Zelensky of being ungrateful for US aid and unwilling to compromise to end the conflict. Trump stated his focus was on achieving peace, not supporting a power that feels emboldened to avoid making peace.
Moscow has consistently denounced the asset freeze as “theft,” claiming that using these funds would be illegal and create a concerning precedent. The Kremlin also argues that Western support for Kiev makes these nations direct participants in the conflict.
The UK is a leading individual donor, having already provided Kiev with over $15.5 billion since January 2022. Germany has contributed over $18 billion in arms and aid, while the US has provided nearly $120 billion, according to the Kiel Institute.
Trump estimated total US aid to Kiev at over $300 billion and wants Ukraine to repay US taxpayers through the minerals deal. He criticized his predecessor, Joe Biden, for providing cash too freely, while noting that European countries would be reimbursed for their aid to Kiev as it was structured “in the form of a loan.”
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