– Advertisement –
The UK is set to power Ukraine for the next two years and announce a new swathe of sanctions today [TUE] as the Prime Minister steps up support to ensure Ukraine can continue to fight for as long as it takes.
It comes as G7 gets under way in Evian, France, this morning, with the first roundtable session focused on building peace and security for Ukraine and for Europe. The Prime Minister is expected to speak during the session, telling leaders that the G7 should collectively go further to ensure Ukraine secures the just and lasting peace it deserves.
He will reiterate that the fighting needs to stop, an immediate ceasefire should be implemented, and that negotiations should start from the current line of contact.
The Prime Minister directed officials in recent weeks to step up support for Ukraine across every dimension, from military equipment to vital energy support and pressure on Putin’s war machine to ensure Ukraine’s momentum on the battlefield is sustained into next winter.
That pressure includes action on Russia’s shadow fleet, which was illustrated by the major military operation to interdict the SMYRTOS vessel in the early hours of Sunday morning.
Vital lessons from Ukraine, and how the UK can drive forward European security, are also expected to be a central focus of the Defence Investment Plan, which will be published ahead of the NATO Summit.
Prime Minister Keir Starmer said:
Russia’s aggression threatens not just Ukraine, but the security of all Europe.
That is why the UK is stepping up – choking off the revenues that fuel Putin’s war and powering Ukraine through the winters ahead.
We will stand with Ukraine for as long as it takes and this announcement reinforces that. Putin should roll back his tanks, end his barbaric strikes, and come to the negotiating table.
Meanwhile, the UK will power Ukraine’s nuclear plants for the next two years with £210 million of UK Export Finance support to enable UK-based Urenco to supply enriched uranium to Ukraine’s nuclear power producer, Energoatom. The deal was agreed between the Prime Minister and President Zelenskyy during their meeting at Downing Street last week.
The deal is critical to Ukraine’s energy security, with Energoatom providing over 50% of the country’s electricity.
The agreement also supports UK jobs and exports, with more than a third of the uranium content originating from Urenco’s processing plant in the North-West of England. Urenco employs more than 650 people in the UK and its work at its Chester site supports more than 4,500 jobs around the UK in the wider supply chain.
The financing, backed by UKEF, builds on a previous two-year deal to supply nuclear fuel to Ukraine.
By securing Ukraine’s energy supply, the deal strengthens Ukraine’s resilience and ability to resist Russian attacks on its energy infrastructure, directly supporting UK and Euro-Atlantic security interests.
Today’s major new sanctions package [16 June], expected to be announced later this morning, will choke Russia’s war effort across multiple fronts.
It will directly target Russia’s illicit shadow fleet and finance networks used to circumvent western sanctions and support military procurement.
The UK is expected to also be the first mover on sanctioning several Liquefied Natural Gas (LNG) vessels moving sanctioned Russian LNG.
This package is expected to bring UK sanctioned shadow fleet and Russian LNG vessels to more than 600.
The new measures are also expected to expose and target a Russian state linked network, involved in covertly procuring western technology for Russia’s military, as well as closing in on several third country suppliers helping Russia to illegally move money around the world.
– Advertisement –
