British PM to demand $20bn loan from Biden for Ukraine before Trump arrives

Starmer plans to call on US President Joe Biden to allocate funds for a $20 billion loan to Ukraine as part of a larger Group of Seven loan before Donald Trump takes office.

One focus emerging from London lobbying is for the G7 nations – Canada, France, Germany, Italy, Japan, Britain and the US – to all deliver on the past promise of new loans for Ukraine.

G7 world leaders agreed back in June to $50 billion (£38 billion) of loans for Kyiv, funded in part by the interest earned on Russian assets seized after the full-scale invasion in February 2022.

The US pledged to provide $20 billion of that $50 billion total, however it is yet to be delivered. Reports from the US last month indicated the money is being prepared for release this year.

One insider close to policy discussions said Britain was willing to “hold Biden’s feet to the fire” on the promise.

Sir Keir’s talks for the G20 summit are yet to be finalised and announced but figures in Downing Street and the Foreign Office expected a bilateral meeting with Mr Biden will be agreed.

David Lammy, the Foreign Secretary, is expected to push the same arguments on delivery of loan promises at a G7 gathering of foreign ministers in Rome later this month.

Source: The Telegraph