The British government has announced a significant financial package of £210 million (approximately €240 million) aimed at bolstering Ukraine’s energy resources. This announcement was made by Prime Minister Keir Starmer during the G7 summit on June 16.
The funding will be facilitated through a loan guarantee from UK Export Finance (UKEF), enabling the British uranium enrichment company Urenco to supply enriched uranium to Ukraine’s state-owned energy firm, Energoatom. This arrangement is expected to sustain the country’s nuclear power plants for the next two years.
Officials noted that this agreement complements a previous deal for nuclear fuel supply, bringing the total British support for Ukraine’s energy security to over £490 million. The deal is also expected to benefit the UK economy, as more than a third of the uranium will be sourced from Urenco’s processing plant in northwest England, thereby preserving skilled jobs and enhancing Britain’s nuclear sector exports.
Boris Schucht, CEO of Urenco, emphasized that the agreement paves the way for long-term collaboration with Energoatom to meet its enriched uranium requirements. Energoatom also welcomed the deal, describing it as a vital step in strengthening the company’s financial capacity and ensuring stable nuclear operations amid ongoing conflict.
Since the onset of Russia’s full-scale invasion in February 2022, the country has targeted Ukraine’s energy infrastructure. Attacks intensified in the fall of 2025, leading to a significant gap between generation capacity and consumption needs, which resulted in prolonged electricity outages. However, with the arrival of spring and increased output from solar power plants, some restrictions on electricity supply have been eased.
The UK has pledged £210 million to enhance Ukraine's energy security through a loan guarantee for enriched uranium supply. This move is part of a broader commitment to support Ukraine's nuclear power capabilities amid ongoing conflict.