Ukraine and UK Push to Fund Air Defense and Drones Using Frozen Russian Asset Proceeds

Ukraine and the United Kingdom are working to finance Ukraine's defense using proceeds from frozen Russian assets, Ukraine's Defense Minister Mykhailo Fedorov stated in a post published on his X account on June 30.

Fedorov noted that he had met with the UK Chancellor of the Exchequer, Rachel Reeves, to advance the joint effort.

The minister urged London to unblock financing under the ERA program as quickly as possible and to direct proceeds from frozen Russian assets toward Ukraine's Defense Forces.

The ERA mechanism is the G7 arrangement that uses earnings from the use of immobilized Russian s