Today: 24 June 2025
23 August 2023
2 mins read

Shapps announces $245 mn for Ukraine N-fuel purchases

The government has said it will provide the loan guarantee through UK Export Finance – the UK’s export credit agency – to enable UK-headquartered company Urenco to supply Ukraine’s national nuclear company,  Energoatom…reports Asian Lite News

UK support will help power Ukraine’s nuclear plants, Energy Security Secretary Grant Shapps has said after visiting the country.

The government has announced it will provide a £192m loan guarantee to enable a UK-based company to supply Ukraine with uranium enrichment services, a vital part of nuclear fuel.

While he was in Ukraine on Tuesday, Shapps visited a power station, which has been badly damaged by Russian bombing. He also met senior Ukrainian ministers and energy industry figures in Kyiv to discuss the UK’s support for the country’s recovery. 

The government has said it will provide the loan guarantee through UK Export Finance – the UK’s export credit agency – to enable UK-headquartered company Urenco to supply Ukraine’s national nuclear company,  Energoatom.

The Department for Energy Security and Net Zero said this would bring the total of the UK’s non-military assistance to Ukraine to nearly £5bn. It said the support would strengthen Ukraine’s energy security as it defends itself against the Russian invasion, as well as maintain its independence from Russian nuclear fuel.

Ukraine has four nuclear power plants – including Europe’s largest at Zaporizhzhia – but before the Russian invasion in February 2022 it had been receiving most of its nuclear services and fuel from Russia. It has been reducing its dependence and in June last year signed a deal with US company Westinghouse to supply fuel to all its nuclear power stations.

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.” 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 UK announcement comes after a meeting of G7 energy ministers in Japan earlier this year, where the UK, US, Canada, Japan and France agreed a new nuclear fuel alliance in an attempt to strengthen the sector in each country and push Russia out of the market. Other European countries have also offered financial support to Ukraine’s energy sector through the Ukraine Energy Support Fund, which aims to repair damage caused by Russia to infrastructure and keep it running.

Last year, Shapps took in a Ukrainian family as part of the government’s Homes for Ukraine scheme. While in Ukraine, Shapps visited a kindergarten, which was damaged by Russian shelling and was previously attended by Nikita, the young son of the family who lived with him. The children performed a song before Shapps played them a recorded message from Nikita. 

ALSO READ-UK ‘absolutely committed’ to net zero, says Shapps

Previous Story

British officials banned from calling Russia ‘hostile state’

Next Story

Italy hit by third major heatwave this summer

Latest from -Top News

No Ceasefire Deal, Says Tehran

Iran’s Foreign Minister Abbas Araghchi says no “agreement” on ceasefire between Israel and Iran…reports Asian Lite News Uncertainty and scepticism mounted on Monday after a surprise ceasefire announcement by the United States,

Qatar: Retaliation on the Table

Majed Al Ansari added that the State of Qatar strongly condemns the attack that targeted Al-Udeid Air Base by the Iranian Revolutionary Guard….reports Asian Lite News Qatar on Monday announced that it

Trump Claims Iran-Israel Truce

The announcement followed a symbolic show of Iran, which shot missiles at a US base in Qatar after having given the US notice of the strike, according to Trump….reports Asian Lite News

Oman Breaks Gulf Taboo on Income Tax

There is no other country in the 6-member Gulf Cooperation Council that imposes income tax….reports Asian Lite News Oman has officially become the first Gulf country to introduce a personal income tax,

Fresh Israeli Raids Hit Iran

The strikes came shortly after Iran fired a missile at Israel before dawn and triggered air raid sirens across much of the country….reports Asian Lite News Israel conducted a new wave of
Go toTop

Don't Miss

Russia begging allies for weapons, says Shapps

Russia has turned to allies like Iran and North Korea

UK govt taking poll interference threats seriously, says Shapps

A report by US software company Microsoft in November last