UK to provide funding to support operation of Ukraine's nuclear power plants

The United Kingdom will help ensure the operation of Ukraine's nuclear power plants over the next two years through £210 million in support from UK Export Finance (UKEF).

Source: European Pravda, citing a statement by the UK government

Details: The funding will enable the British company Urenco to supply enriched uranium to Ukraine's state nuclear energy producer, Energoatom.

The agreement was reached between UK Prime Minister Keir Starmer and Ukrainian President Volodymyr Zelenskyy during their meeting at Downing Street last week.

The UK government stressed that the deal is crucial for Ukraine's energy security, as Energoatom generates more than 50% of the country's electricity.

The agreement will also support jobs and boost exports in the United Kingdom, with more than one-third of the uranium supplied from Urenco's processing facility in north-west England.

The UKEF-backed financing builds on a previous two-year agreement for the supply of nuclear fuel to Ukraine.

"By securing Ukraine's energy supply, the deal strengthens Ukraine's resilience and ability to resist Russian attacks on its energy infrastructure, directly supporting UK and Euro-Atlantic security interests," the UK government said.

Background:

• Norway recently announced more than €9 million in funding to help repair the protective confinement structure over the Chornobyl Nuclear Power Plant after it was damaged by a Russian drone strike.
• In April, the United States also expressed its readiness to provide up to US$100 million as part of the G7's joint efforts to repair the New Safe Confinement at the Chornobyl plant.

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