UK to Allocate £210 Million to Support Ukrainian Nuclear Power Plants for Two Years

The United Kingdom and Ukraine have concluded an agreement to ensure the stable operation of Ukrainian nuclear power plants for the next two years. Support will be provided through UK Export Finance, totaling £210 million.

This agreement will enable the British company Urenco to supply enriched uranium to Ukraine's nuclear energy producer, Energoatom. The understanding was reached during a meeting between UK Prime Minister Keir Starmer and Ukrainian President Volodymyr Zelenskyy on Downing Street in London last week.

The British government's press service emphasized that this agreement is crucial for Ukraine's energy security, as Energoatom provides over 50% of the country's electricity. Furthermore, the agreement contributes to job creation and export growth in the United Kingdom, as more than a third of the uranium originates from Urenco's processing plant located in northwest England.

The funding, secured by UKEF, builds upon a previous two-year agreement for the supply of nuclear fuel to Ukraine. «By securing Ukraine's energy supply, the agreement strengthens the country's resilience and its ability to withstand Russian attacks on energy infrastructure, directly supporting the security interests of the United Kingdom and the Euro-Atlantic community,» the statement reads.