Fact Check: This marks the first use of UK’s ERA scheme for purchasing weapons for Ukraine.

Fact Check: "This marks the first use of UK’s ERA scheme for purchasing weapons for Ukraine."

What We Know

The claim that the UK's Extraordinary Revenue Acceleration (ERA) scheme is being used for the first time to purchase weapons for Ukraine is supported by several recent reports. The UK government announced that it will provide 350 ASRAAM air defense missiles to Ukraine, funded by £70 million raised from the interest on seized Russian assets through the ERA scheme (source-1). This initiative is part of a broader military support package aimed at enhancing Ukraine's defense capabilities amid ongoing conflict with Russia.

The ERA scheme itself has been previously utilized for other forms of financial assistance to Ukraine. For instance, the UK has already transferred significant funds under this scheme, including a £2.26 billion loan aimed at military procurement (source-2). However, the specific use of the ERA scheme for direct weapon purchases appears to be a new development, as noted by various sources (source-3, source-5).

Analysis

The assertion that this is the first instance of the UK using the ERA scheme to purchase weapons for Ukraine is nuanced. While it is indeed the first time that the UK has directly linked the ERA scheme to the procurement of military equipment, the ERA has been previously employed for other financial transfers to Ukraine. For example, the UK has already sent substantial funds to support Ukraine's military efforts, which were not specifically earmarked for weapon purchases (source-2).

The reliability of the sources reporting this information is generally high, with official government announcements (source-1) and reputable news outlets (source-5, source-7) providing corroborating information. However, it is important to note that while the claim is accurate in the context of direct weapon purchases, it overlooks the broader context of the ERA scheme's previous applications.

Conclusion

The claim that this marks the first use of the UK’s ERA scheme for purchasing weapons for Ukraine is Partially True. It is accurate in that this is the first instance where the ERA scheme has been specifically utilized for direct weapon procurement. However, it does not account for the fact that the ERA scheme has been previously used for other forms of financial assistance to Ukraine, which complicates the narrative. Therefore, while the claim holds merit, it requires additional context to fully understand the scope of the ERA scheme's applications.

Fact Check: This marks the first use of UK’s ERA scheme for purchasing weapons for Ukraine.