The massive loan will be used to help rebuild the war-ravaged nation, paid for by using Russian assets frozen following the 2022 Kremlin-backed invasion.
The Prime Minister said Britain had led the way in securing the deal, announced last night.
He said the "unprecedented and complex" package had been two years in the making and would help thwart Putin's invaders.
Speaking to reporters at the two-day summit in Puglia, Italy, Mr Sunak said: "What we're announcing is a game-changing package of support for Ukraine that will be funded from the G7.
"And it will be funded by the profits on the seized Russian assets.
"It's fantastic news. It's something that I, personally, and the UK have been leading on and championing for some time now.
"So to get it over the line is obviously great news.
"And it just demonstrates the G7 is completely united in doing whatever it can and whatever it takes to support Ukraine to defend against Russian aggression.
Sanctions
"The money is provided by the G7 as a loan and then secured against the profits of the assets that have been immobilised."
This story is from the June 14, 2024 edition of Daily Express.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the June 14, 2024 edition of Daily Express.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Antony backed to hit top gear again
RUBEN AMORIM wants to rediscover the old Ajax Antony by boosting the Brazilian's fragile confidence - if the winger is prepared to keep working \"really hard\".
Movie magic is on its way...
THE most anticipated films of 2025 are all blockbuster franchises topped by Mission: Impossible, Jurassic World and Avatar.
Explosions lit up the horizon, glowing red as dawn broke
RUSSIAN missiles litter Kyiv's holiday streets with balls of fire. The city was still dark and its inhabitants counting the days til Christmas when a barrage of ballistic missiles shattered the morning silence.
Astronaut over the moon with Rudolph
SUNI Williams sleighs when it comes to making a reindeer during her unplanned Christmas in space.
Teen tasered while playing tag wins £130k police payout
A TEENAGE boy who was seriously injured when police Tasered him as he played tag with friends has won more than £130,000 in damages.
I hope I managed to bring Automatic you some sunshine and light'
ZOE Ball signed off her final BBC Radio 2 breakfast show by saying she hopes she gave listeners a lift when they most needed it.
Oh baby...Joss's joy at pregnancy
SINGER Joss Stone said that being \"shocked was an understatement\" as she announced her third pregnancy, weeks after adopting a son.
Furious pharmacists blast Streeting
WES Streeting is facing a backlash from \"outraged\" pharmacists over delays to contract negotiations.
Royal 100th birthday wishes are Icing on the cake at surprise party for D-Day hero
HERO soldier Mervyn Kersh toasted his 100th birthday at a glittering surprise party held by royal appointment yesterday.
Mosley 'most likely died of heatstroke'
Coroner's open verdict on T'V doctor’s Greek island death
