Prime Minister Rishi Sunak has announced the launch of a new £1bn fund to help keep the UK safe and address global sources of volatility and insecurity.

The UK Integrated Security Fund (UKISF) will replace the existing Conflict, Stability and Security Fund (CSSF).

It will have a wider remit, funding projects both at home and overseas to tackle some of the most complex national security challenges facing the UK and its partners.

Combining several smaller funds across government, the UKISF will have a budget of almost £1bn.

The UKISF will also support the work of the new Economic Deterrence Initiative (EDI), which will tackle sanctions evasion across the UK’s trade, transport and financial sanctions.

An additional £50 million in funding has been provided to improve enforcement of the UK’s sanctions regime and prepare the government for responding to potential future hostile acts.

The government will also work with the private sector to maximise the reach of sanctions against those who pose a threat to the UK.

The current CSSF was launched in 2015 and operates in over 80 countries and territories, delivering more than 90 programmes and combines Official Development Assistance (ODA) and other, non-ODA funding sources.

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Current programmes include assistance to Ukraine following the illegal invasion by Russia and countering Russian disinformation on the invasion, as well as developing a number of regional cyber strategies which help the UK’s allies deter cyber-attacks on their national infrastructure.

The Foreign Secretary, James Cleverly, said: “The new Integrated Security Fund will allow the UK to deliver on the core priorities of the Integrated Review, from fostering security in fragile states to deterring cyber threats and holding human rights abusers to account.

“As part of this, the Economic Deterrence Initiative will ensure there is nowhere to hide from our sanctions regime.

“Since Russia began its full-scale invasion of Ukraine, the UK and our international partners have imposed an unprecedented package of sanctions in order to damage Putin’s capacity to fund his illegal war, undermine his military machine, and target those who prop up the regime.”

The UK can impose a range of sanctions against individuals or organisations that pose a threat to the UK or its interests. These include asset freezes, travel bans, trade sanctions and transport sanctions.