The EU Will Allow Ukraine To Purchase British Weapons Using A 60 Billion Euro Loan

A final agreement between Brussels and London was reached on the sidelines of the NATO summit.

The European Union is close to reaching an agreement that will allow Ukraine to use a 60 billion euro loan provided by the EU to purchase British weapons. This was reported by Bloomberg citing informed sources. According to the publication, negotiations between Brussels and London have been ongoing for several months, and a final agreement was largely reached on the sidelines of the NATO summit in Ankara. The program could be announced as early as Monday, July 13, at a meeting of the “coalition of the willing” in Paris, organized by the United Kingdom and France. European Commission President Ursula von der Leyen is expected to attend, her press secretary Paula Pigno confirmed.

According to the agency’s sources, the United Kingdom will not pay a fixed fee for access to the program—instead, the British government will make financial contributions as Ukraine uses the loan to make purchases from British companies. The amount of the contribution will be determined by the value of each contract and interest expenses.

The current agreement was preceded by the collapse of negotiations on the UK’s accession to the EU’s SAFE defense fund (€150 billion)—the deal fell through due to Brussels’ demand that London pay an access fee. British officials, as Bloomberg notes, blamed France.

Negotiations on the Ukrainian loan, by contrast, proceeded much more smoothly, thanks in part to the active stance of the Netherlands, which insisted on concluding the deal as soon as possible. The EU acknowledges that the agreement will make it easier for Ukraine to purchase British weapons and will promote further integration of the two countries’ defense industries.

European diplomats note that Ukraine has gained a tactical advantage over Russia in recent months by successfully striking critical infrastructure, and now the allies intend to strengthen its strike capabilities and air defense systems before winter sets in, amid fierce Russian attacks on Kyiv.

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