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November 18, 2021

UK signs agreement to help enhance Ukraine’s naval capabilities

The deal builds on the agreement signed between the two nations and their industrial partners in June.

UK Defence Secretary Ben Wallace and Ukraine Defence Minister Oleksii Yuriyovych Reznikov have signed an intergovernmental framework agreement (IFA).

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The agreement marks the next stage of bilateral cooperation between the nations and is aimed at increasing Ukraine’s defence capabilities and strengthening interoperability.

It will see Ukraine use British financing to enhance its naval capabilities.

Through the latest agreement, the two countries will continue to focus on joint projects to develop the capabilities of the Ukrainian forces.

In a joint statement, the defence ministers said: “Ukraine and the United Kingdom are strategic partners in security and defence.

“Our governments have no desire to be adversarial or seek in any way to strategically encircle or undermine the Russian Federation. We are concerned by Russia’s military build-up and activity around the borders of Ukraine.

“Ukraine’s national sovereignty and territorial integrity is indisputable.

“The United Kingdom stands shoulder-to-shoulder with the people of Ukraine and will continue its long-standing determination to support them.

“We are unwavering in that support and together we remain vigilant and united in the defence of our common values and freedoms.”

The IFA is a follow-on to the Memorandum of Implementation signed by the two countries in June this year to partner on enhancing Ukraine’s naval capabilities.

This memorandum provides for the joint design and construction of ships in Ukraine and the UK, the reconstruction of Ukrainian shipbuilding enterprises, and the construction of two bases for the Ukrainian Navy.

In October 2020, the UK and Ukraine Defence Ministers signed a Memorandum of Intent to develop the capabilities of the Ukrainian Navy.

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Latest Updates on the Ukraine/Russia Crisis

Whilst at its core a humanitarian crisis, the Russian invasion of Ukraine risks adding materially to existing global economic and supply challenges. We are likely heading into a period in which geopolitics will become a regular part of boardroom discussions. Recent developments have seen Russian companies make significant progress around the world to supply countries with equipment in various Aerospace, Defense & Security sectors. This means that countries dependent on Russian arms for their security calculations should review all purchases and clauses regarding their programs and payments. Download GlobalData’s 5th Ukraine Conflict Executive Briefing to learn more. This report is part of a continued series that is renewed monthly with the latest data and analysis, as the conflict develops and has wider implications across sectors. Access the latest macro-economic forecasts, charts with the latest data, and our updated sanctions tracker, as well as our updated sector scorecards to reflect the current views on the impact of the crisis at a company level.
by GD50 ADS
Enter your details here to receive your free Report.

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