The G7 Summit in Evian, France, is poised to become a pivotal moment in the global response to Russia's ongoing aggression against Ukraine. Amidst mounting pressure on Moscow, Prime Minister Keir Starmer is set to unveil a comprehensive package of support for Kyiv that underscores the UK's commitment to standing by its Ukrainian ally. At the heart of this initiative lies a landmark energy deal and an intensified sanctions regime aimed at crippling Russia's ability to wage war.
A cornerstone of the new support is a two-year agreement, valued at £210 million, under which UK-based Urenco will supply enriched uranium to Ukraine's state nuclear power producer, Energoatom. This critical pact, backed by UK Export Finance, will ensure the continued operation of Ukraine's nuclear plants – responsible for generating over half of its electricity – thereby bolstering Kyiv's energy security and resilience in the face of Russian aggression.
The UK is also expected to unveil a significant new sanctions package targeting Russia's shadow fleet and financial networks used to circumvent existing Western sanctions. The measures will specifically focus on Liquefied Natural Gas (LNG) vessels transporting sanctioned Russian LNG, with over 600 vessels set to be targeted in total. This strategic move aims to further isolate Russia's economy from the international community and undermine its ability to sustain its military campaign.
Prime Minister Starmer has reiterated the UK's unwavering commitment to standing with Ukraine "for as long as it takes," urging President Putin to halt his attacks and engage in meaningful negotiations. The G7 Summit will serve as a platform for collective action, with the Prime Minister expected to advocate for a united front among G7 leaders to achieve a just and lasting peace in Ukraine.
The nuclear fuel deal also holds significant economic benefits for the UK, with over a third of the uranium content originating from Urenco's processing plant in the North West of England. This supports more than 4,500 jobs across the wider UK supply chain, underscoring the domestic impact of this international support.