In a statement to the House of Commons following his visit to the troubled country, Hague said: ‘For our part, as I informed the Ukrainian government yesterday, we will provide immediate technical assistance to Ukraine, to support elections and assist with reforms on public financial management, debt management and energy pricing. 

‘We are exploring further UK expertise to assist with programmes to tackle corruption, reform the labour market and improve the investment climate in Ukraine, and a British team is already in Kyiv to coordinate these efforts.

He added that assistance on asset recovery had also been offered. Last week, Ukraine’s interim government officially requested financial assistance from the International Monetary Fund. The IMF sent a team of officials to Kyiv yesterday.

Hague said today the IMF needed to be ‘front and centre’ of any programme of assistance.

In a statement issued yesterday, the G7 group of finance ministers said they were united in their commitment to provide strong financial backing to Ukraine.

‘The transition to a new government in Ukraine offers a unique opportunity to put in place urgently needed market-oriented reforms that will restore financial stability, unleash economic potential, and allow Ukraine’s people to better achieve their economic aspirations.’

They added that the IMF was the body best placed to help Ukraine economically and it would unlock support from other sources including the World Bank and European Union.

‘We are also committed to mobilise rapid technical assistance to support Ukraine in addressing its macroeconomic, regulatory and anti-corruption challenges,’ the finance ministers said.

‘We welcome the participation of the other concerned members of the international community.’

The G7 nations are Canada, France, Germany, Italy, Japan, the UK and US.