UK to provide $243M loan guarantee to boost Ukraine nuclear fuel capabilities

By Aysu Bicer

LONDON (AA) - The UK on Wednesday announced that it will take steps to ensure the provision of vital fuel for Ukraine's nuclear power plants by offering a planned £192 million ($243 million) loan guarantee.

The support aims to help Ukraine maintain its energy needs during the winter and reduce its dependence on Russian supplies, according to a UK government statement.

During his visit to Ukraine, UK's Energy Security Secretary Grant Shapps toured a power plant that was undergoing repairs due to damage from Russian bombing.

The government's plan aimed at facilitating Urenco, a UK-based company, in providing essential uranium enrichment services to Ukraine, a critical component of nuclear fuel production.

“Urenco, renowned for nuclear enrichment services, has been a supplier to Energoatom and Ukraine since 2009,” the statement said.

Shapps said: "Our support for Ukraine is unwavering in the face of (Russian President Vladimir) Putin’s barbaric invasion - the UK continues to stand with Ukraine as they repel Russian attacks and rebuild their country."

"Being here on the ground, it’s truly remarkable witnessing first-hand the sheer courage, resolve and gritty determination of the Ukrainian people," he added.

"Putin has used energy as a weapon of war: the action today to support nuclear fuel deliveries will help Ukraine end their reliance on Russian supplies and bolster their energy security," the energy minister added.

Ukraine relies on nuclear power for over half of its electricity generation and Russia currently controls Ukraine's largest nuclear plant located in Zaporizhzhia.

Once provided, the support is expected to bring the total of the UK’s non-military assistance to Ukraine to nearly £5 billion.