The UK government will provide loan guarantees in the amount of GBP 192 million (EUR 225 million) to strengthen Ukraine’s energy security and help the nation rid of nuclear fuel dependence on the Russian Federation.That’s according to Sky News, referring to a statement by UK Energy Secretary Grant Shapps, who is visiting Ukraine, Ukrinform reports.
“The UK will provide a £192m loan guarantee to Ukraine’s national nuclear company, Energoatom via the UK’s export credit agency, UK Export Finance,” the report reads.
As part of the agreement, UK’s Urenco will provide the Ukrainian national nuclear operator, Energoatom, with uranium enrichment services that are vital for nuclear fuel.
The British government believes this will strengthen Ukraine’s energy security and help end the country’s dependence on nuclear services and nuclear fuel from the Russian Federation, as well as further isolate Russian President Vladimir Putin.
“Our support for Ukraine is unwavering in the face of Putin’s barbaric invasion – the UK continues to stand with Ukraine as they repel Russian attacks and rebuild their country,” Shapps said.
“Putin has used energy as a weapon of war: the action today to support nuclear fuel deliveries will help Ukraine end their reliance on Russian supplies and bolster their energy security,” the energy secretary added.
According to the Department of Energy Security, the new loan will bring the UK’s non-military financial aid to Ukraine close to GBP 5 billion.
During his visit to Ukraine, Grant Shapps met with senior Ukrainian government and energy officials and visited a power plant that is being repaired after sustaining damage from Russian shelling.
As Ukrinform reported earlier, the UK will send an additional GBP 60 million ($77 million) to NATO’s Ukraine Support Fund.
source ukrinform