The Ministry of Defense of Ukraine, the Ministry for Strategic Industries, and the Ministry of Defense of Great Britain have signed a project agreement regarding the use of profits from frozen Russian assets within the framework of the Extraordinary Revenue Acceleration (ERA) initiative.
From the Ukrainian side, the document was signed by First Deputy Minister of Defense of Ukraine Serhiy Boyev and Deputy Minister for Strategic Industries of Ukraine David Aloyan. From Great Britain – Major General Anna-Lee Riley, Director of the Directorate for Engagement and Application of Strategic Capabilities of the Ministry of Defense of the United Kingdom.
“This funding has not only practical but also principled value. Profits from Russian assets are directed towards strengthening Ukrainian defense — as a response to aggression and recognition of Ukraine’s right to defend itself,” emphasized First Deputy Minister of Defense of Ukraine Serhiy Boyev.
According to the agreement, during 2025–2026 Ukraine will receive 3 billion dollars. The funds will be allocated for:
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purchasing defense products of foreign production
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repair and maintenance of military equipment
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implementation of joint projects involving Ukrainian and international defense companies
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procurement of other critically important materials, including Ukrainian-made products.
“Ukrainian enterprises have capacities of 35 billion dollars, but a lack of funds does not allow their full use. Therefore, attracting profits from frozen Russian assets will be a significant boost to the production and repair capacities of the Ukrainian defense industry,” noted Deputy Minister for Strategic Industries of Ukraine David Aloyan.
The Ukrainian side expressed gratitude to the government of Great Britain for providing this financial package and supporting weapons production in Ukraine.
The ERA initiative (Extraordinary Revenue Acceleration) is a joint program of the G7 countries aimed at supporting Ukraine. Its essence lies in using profits from frozen Russian assets to repay loans that G7 countries grant to Ukraine. The total amount of the program is 50 billion dollars, part of which will be used to meet defense needs.
