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Ukraine secures $1.6 billion from UK for navy vessels

Ukraine secures $1.6 billion from UK for navy vessels

Ukraine will sign a memorandum with the UK to secure 1.25 billion pounds (1.61 billion dollars) for the Ukrainian Navy to build new naval vessels, President Volodymyr Zelenskiy said on Wednesday.

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“This is an important strategic document ... we will sign this memorandum for the amount of 1.25 billion pounds,” Zelenskiy announced on a local television, without giving further details.

The memorandum will be signed during the 7-8 October state visit of Zelenskiy to the United Kingdom.

Specialized military news agencies have said the funds would be in the form of a 10-year loan and would allow the United Kingdom to provide Ukraine with eight fast-attack crafts of the Barzan class.

They said the first two ships, with the remaining six ships to be completed in Ukraine, will be installed in the UK.

Maritime Business  World 

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