Ukraine War Fund From Russia Cash

G7 agrees deal to provide £40bn loan to Kyiv

- LIZZY BUCHAN

BRITAIN and its G7 allies have reached a deal to use profits from frozen Russian assets for a £40billion loan for Ukraine.

The cash would be provided by the end of the year to shore up Kyiv against Vladimir Putin's onslaught.

It is expected the loan would be repaid using interest earned on the £230bn in frozen Russian assets.

Rishi Sunak said at the G7 summit in Italy: "What we're announcing is a game-changing package of support for Ukraine.

"It demonstrates the G7 is completely united and doing whatever it can and whatever it takes to support Ukraine to defend against Russian aggression."