Due to its confrontation with Russia, Ukraine pays out large quantities of money. Kyiv anticipates significantly larger external support in 2025.
Deputy Finance Minister Olha Zykova stated on Wednesday that Ukraine will require $12-15 billion (10.8-13.5 billion euros) in additional foreign financial assistance by 2025. What’s the reason? The increasing expenses of war.
Kyiv expects more than 37 billion dollars (33 billion euros) in Western backing.
President Volodymyr Zelensky has stated that Ukraine hopes that the billions of dollars planned for the war effort will be realized.
Some of the funds in question will be financed from the revenues of frozen Russian state assets.
Ukraine-Russia war conversation
There have been numerous political pronouncements from Kiev’s partners, and more are expected, Zelensky stated in his evening video address on Wednesday. “But we need a real mechanism,” he said.
Ukraine needs the income from the frozen Russian assets to defend itself against Russia, the aggressor in the more than two-year-old armed conflict.
“The relevant discussions have been going on for far too long and we finally need decisions,” according to Zelensky. At their June summit, the seven major Western industrialized nations (G7) decided to provide new financial aid to Kiev. A generous loan of $50 billion will be backed by interest revenue from frozen Russian assets.
Read more
Lamborghini CEO Unveils New Hybrid Supercar: How the ‘YOLO’ Effect is Driving Sales Growth
Ukraine says it sank a Russian submarine by missile strike in Crimea
