In order to strengthen security 'in the face of increased Russian threats', UK Prime Minister Rishi Sunak on Tuesday announced £4.2 billion ($4.9 billion) to be spent on five new Navy ships.  "The UK and allies are taking steps to bolster their security in the face of increased Russian threats," the PM said in a Downing Street statement, reported news agency AFP.


Expressing concern over Russia’s operations, Sunak said, "Russia's actions put all of us at risk. As we give the Ukrainian people the support they need, we are also harnessing the breadth and depth of UK expertise to protect ourselves and our allies. This includes building the next generation of British warships," added Sunak.


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However, the announcement on spending is in line with the programme under which three vessels are already under construction, and all eight frigates are expected to be completed by the mid-2030s, the statement said.


The announcement comes amid Sunak’s visit to Bali, Indonesia for a meeting of the Group of 20 that is expected to heap pressure on Russia over its invasion of Ukraine.


President Vladimir Putin has avoided attending the conference by sending his foreign minister. However, Sunak and allies are expected to "call out" the Russian leader's "callous disregard for human rights and stress that Russia's role in the international system will never be normalised while the war in Ukraine continues."


Sunak, who landed in Indonesia on Monday for the G20 Summit, called out for coordinated global action to address international economic instability and fight back against the actions of a “rogue state” like Russia.


As he laid out a five-point plan of action for the Group of 20, Sunak warned that Russia is trying to “asphyxiate the global economy”.  The comment comes as countries around the world face huge economic difficulties and inflationary pressures, which the UK stresses are caused or exacerbated by Russian President Vladimir Putin’s “illegal invasion” of Ukraine.