Sergii Marchenko held phone conversation with newly appointed UK Chancellor of the Exchequer

Minister of Finance of Ukraine Sergii Marchenko held his first phone call with the newly appointed Chancellor of the Exchequer of the United Kingdom John Healey.

The parties discussed the current state of bilateral financial cooperation, Ukraine’s State Budget needs for 2026–2027, as well as further support for the country’s defence capabilities and financial resilience.

Sergii Marchenko congratulated John Healey on his appointment and thanked the UK Government for its consistent leadership in supporting Ukraine during the full-scale war. The timely provision of resources has enabled Ukraine to effectively resist the aggressor.

Since 2022, the United Kingdom has provided Ukraine with USD 3.8 billion in direct budget support. In addition, USD 3 billion has been allocated to strengthening Ukraine’s defence capabilities under the G7 ERA Loans mechanism, which is backed by revenues generated from frozen russian sovereign assets.

“The United Kingdom remains one of Ukraine’s key partners and one of the largest providers of military and financial assistance. I highly value the leadership of the UK Government, as well as the effective cooperation between the Ministry of Finance of Ukraine and HM Treasury. I am confident that under John Healey’s leadership, this partnership will continue to grow stronger,” Sergii Marchenko said.

John Healey was appointed Chancellor of the Exchequer on 20 July 2026. From 2024 to 2026, he served as the UK Secretary of State for Defence and was directly involved in matters related to military support for Ukraine.

The parties paid particular attention to the need to secure predictable and sufficient external financing for Ukraine in 2026-2027.

The European Unionʼs Ambassadors recently agreed to the United Kingdom’s participation in the arrangements established under the EUR 90 billion Ukraine Support Loan, aimed at covering Ukraine’s key defence needs in 2026-2027. This decision enables Ukraine to use the loan proceeds to procure defence products from UK manufacturers.

Sergii Marchenko stressed that the continuation of russia’s aggression requires Ukraine to maintain substantial security and defence expenditure. At the same time, international budget support remains critical for the timely financing of the country’s social and humanitarian expenditure.

The Minister of Finance also highlighted the importance of the United Kingdom’s participation in developing long-term financing solutions for Ukraine.

John Healey reaffirmed the United Kingdom’s unwavering support for Ukraine and its readiness to continue close coordination aimed at strengthening Ukraine’s financial resilience and defence capabilities.