Starmer announces new £1.6bn export finance deal to support Ukraine

He made a statement following the European leaders’ summit in London.

The move is part of the UK's ongoing commitment to help Ukraine defend itself and deter future invasions. Starmer emphasized the importance of Ukraine being at the negotiating table, stating that any peace deal should include continued support to ensure long-term security.

The UK, alongside other nations, is forming a coalition of willing countries to contribute to Ukraine's peace efforts. This coalition will also include increased military support.

Plans for a future meeting are set to take place soon to finalize a shared approach, with Starmer stressing that it is time for action.

Agreement details from Ukraine's Ministry of Defense

The Ministry of Defense announced that Ukraine will receive more than 5,000 LMM (Lightweight Multirole Missile) interceptor missiles and launchers for them as part of the initiative.

“This agreement is one of the largest in the history of Ukraine's security and defense sector. The £1.6 billion project is aimed at strengthening Ukraine's air defense system until 2030. It is funded by a loan guaranteed by the British state agency UK Export Finance (UKEF),” the statement said.

In addition to the supply of weapons, the intergovernmental agreement provides for the localization of production and technology transfer, which will strengthen Ukraine’s strategic independence in the field of air defense.

For reference. LMM are high-precision interceptor missiles that effectively destroy Shahed drones. They have already proved their effectiveness in the battles of 2022-2024.