1 The Financial Assistance to Ukraine Bill will provide the Government with spending authority to enable the UK to provide Ukraine with financial assistance as part of the G7 ‘Extraordinary Revenue Acceleration (ERA)’ Loans to Ukraine scheme. Through this scheme the G7 collectively will provide Ukraine with an advance of approximately USD $50bn, repaid from the extraordinary profits made on immobilised Russian sovereign assets (RSAs) held in the EU. The Chancellor of the Exchequer announced on 22 October 2024 that the UK would contribute £2.26bn ($3bn) to the proposal. 1
1 Announced at the G7…