UK signs agreement enabling its defense companies to participate in European initiative to support Ukraine

London, July 13 (KUNA) -- British Prime Minister Keir Starmer announced on Monday the signing of an agreement that enables British defense industry companies to participate in the European Union’s €78 billion ($104 billion) loan initiative to support Ukraine. Speaking at the “Coalition of the Willing” summit in Paris, Starmer said the deal would help ensure Ukraine receives the necessary support to defend itself, while also bolstering British defense firms, creating high-skilled jobs, and strengthening the United Kingdom’s national security. He added that the UK, in cooperation with its European allies, continues to increase its support for Ukraine and intensify pressure on Russia, sending a clear message of unity in confronting Russia and defending Europe’s security. The British government stated in a press release that the agreement follows the successful conclusion of negotiations between the UK and the EU, first announced at the European Political Community summit in Armenia in May, marking a significant step toward enhancing defense and security cooperation between the two sides. The EU loan initiative was established to help meet Ukraine’s defense and financial needs in 2026 and 2027. The UK has committed to providing approximately £3.7 billion ($5 billion) in military aid to Ukraine this year, bringing the total British support since the outbreak of the Russia-Ukraine war in February 2022 to around £25 billion ($33.5 billion). (End) A.S.H./M.A.H.A.