UK to help Ukraine break its dependence on nuclear fuel from Russia

During his visit to Ukraine, UK Energy Secretary Grant Shapps said the UK would provide loan guarantees worth £192 million (€225 million) to boost Ukraine's energy security and aid in breaking its dependence on nuclear fuel from Russia.

Source: European Pravda, citing Sky News

Details: The agreement will see UK company Urenco provide uranium enrichment services to Energoatom, Ukraine's national nuclear energy company, crucial for nuclear fuel.

London will provide loan guarantees to Energoatom through the UK Export Finance export credit agency.

The UK government hopes this will strengthen Ukraine's energy security and help end the country's dependence on nuclear services and nuclear fuel from Russia, as well as further isolate Vladimir Putin.

During his visit to Ukraine, Shapps met with senior Ukrainian ministers and energy industry representatives and visited a power plant undergoing repairs after damage caused by Russian bombardment.

The UK Department for Energy Security and Net Zero estimates that the new loan will increase the UK's non-military financial assistance to Ukraine to almost £5 billion (nearly €6 billion).

Background: 

• On 17 August, UK Defence Intelligence reported that Russia would likely attack Ukrainian power infrastructure facilities in the winter, adding that Ukraine was preparing for this.
• Earlier, the media reported that Ukraine was close to signing a deal with Bulgaria to purchase two Russian-made nuclear reactors and other critical energy equipment.

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