The Appeal of the World Economists

We, economists, call on our governments to take immediate steps.

As a result of the Russian attacks, not only the people of Ukraine but also the entire world order and the fate of democracy were threatened. The world economy and global security architecture have faced the greatest challenge since World War II.

We qualify Russian President Vladimir Putin's threats to use nuclear weapons and President Lukashenko's provision of Belarusian territory for Russian military operations against Ukraine (including the firing of cruise missiles into Ukrainian cities) as severe challenges to Ukraine and humanity as a whole.

We pay tribute to the armed forces and citizens of Ukraine who at the cost of their lives are defending the world with dignity and effectiveness.

In our opinion, Ukraine's resistance to the perfidious aggressor and the defense of European values prove Ukraine's readiness for full and immediate accession to the EU and NATO.

Only the unity of the world can prevent World War III.

At the same time, it is evident that the sanctions imposed on the aggressor are not effective enough, while the economic and military assistance provided by the international community to Ukraine is still insufficient.

We call on the governments of the World international financial organizations:

Provide Economic Assistance to Ukraine

• A clear RECOVERY PLAN (new Marshall Plan) for Ukraine with a Renaissance Fund of $200-300 billion for the country's needs estimated as of March 3, 2022, for economic recovery and stabilization, macrofinancial support for infrastructure rehabilitation, and business activity.
• Continued assistance for the reception of refugees and their future return to Ukraine after the end of the war.
• Economic, political assistance for the reintegration of the occupied territory of Donbass and other occupied territories (Crimea).
• Demand reparations and contributions from the Russian Federation, which include not only the restoration of all damaged and destroyed infrastructures, but also compensation for lost GDP in 2014-2022.

Impose severe sanctions on Russia and Belarus to stop the aggression:

• Impose a full-scale embargo on Russian oil and gas. The world is less dependent on Russian energy imports than Russia is on global exports. Imposing an embargo could cost Russia up to $140 billion a year.
• Ban other areas of international trade by Russia, Belarus, and primarily their military exports.
• Maximize pressure through financial sanctions:
• Introducing a full-scale, rather than point-by-point, disconnection of the Russian financial system from SWIFT
• Blocking of assets of the Russian banking system abroad
• Complete banning of Visa and MasterCard
• The delisting of all Russian securities from stock exchanges worldwide
• Removal of the Russian Federation from all investment indices and ratings
• Prohibition for international clearing and brokerage companies to conduct operations with Russian securities
• Freezing of the international assets of the Russian Federation's stabilization fund.
• Extend the blocking of air, sea, and rail communications with the Russian Federation.
• Expand existing sanctions on Russian officials, oligarchs, and members of their families. All existing assets should be confiscated. Impose sanctions on all members of the State Duma of the Russian Federation who voted to recognize the so-called "DNR" and "LNR" and authorize the use of the Russian military outside its territory, as well as on the top 100 business persons of the Russian Federation.
• Confiscate the property of sanctioned Russian citizens in the EU, US, WB and other countries of the world.
• Argue China, the UAE, and other countries to join sanctions imposed on the aggressor country to ensure universal compliance with the sanctions regime.
• Support business efforts around the world to replace Russian suppliers, primarily Ukrainian companies
• Block technology transfers to Russia and Belarus.
• Block Russian and Belarusian media channels and propaganda bloggers.

In the field of economic science:

• Block access to scientometric databases for institutions and citizens of the Russian Federation
• Block the participation of scientists and scientific institutions of the Russian Federation in international grant programs funded by international organizations
• Expel scientists of the Russian Federation who did not express their opposition to the Russian Federation's aggression in Ukraine from the editorial boards and reviewers of international publications;
• Suspend participation in international academic mobility programs by those scholars and students from the Russian Federation who did not express opposition to the Russian Federation's aggression in Ukraine
• Boycott scientific conferences and other events in the Russian Federation, and recall invitations to Russian scientists to scientific events in countries around the world
• Initiate the removal of journals registered in the Russian Federation from international science databases
• Ban Russian citizens who have not voiced their opposition to the Russian Federation's aggression in Ukraine from editors and reviewers of international publications.

From the strategic perspective, the world can take advantage of Ukraine's victory in the war with the Russian Federation:

• Creating a new security architecture in Europe where Ukraine will play one of the leading roles. Creating a bridgehead for a new NATO army.
• Placing the world's institutions in Ukraine, which will allow new quality security institutions and sustainable development.
• Creation of a food security zone for the world in Ukraine.
• Creation of an energy security zone for Europe.
• Transformation of Ukraine into a guarantor country of cyber security of the world.
• Creation of the territory of advanced development and economic success in Ukraine, which will be an example for the future democratization of Russia.
• Reorientation of the value-added chain towards Ukraine's participation, which will allow aligning the interests of the United States, the EU, China and other Asian and Middle Eastern countries and taking advantage of the specific geographical location of Ukraine.

The vital task now is to stop the Russian invasion, to force Russia to free the occupied territories of Ukraine, and to force the aggressor to abandon its aggressive policy and threats to use nuclear weapons.

For a complete victory, it is necessary to create the conditions for the rapid reconstruction of Ukraine and its early accession to the developed world.

Signatures: 

(here we will add your name)

Gerard Roland, E Morris Cox Distinguished Professor of Economics and of Political Science, UC Berkeley, USA

Krassen Stanchev, Associate Professor of Sofia University, Board Chairman of the IME

Keremidchiev Spartak, prof., ERI-BAS, Bulgaria

Yuriy Yekhanurov, Prime Minister (2005-2006), Professor, Taras Shevchenko National University of Kyiv, Ukraine

Mykhailo Kukhar, Senior Economist Ukraine Economic Outlook, Ukraine

Aurora Aragon, Esq. J.D. Seton Hall University

Igor Novikov, Advisor to the President of Ukraine (2019-2020)

(Ukrainian economists)

Anzhela Ignatyuk, Professor, Dean of the Faculty of Economics, Taras Shevchenko National University of Kyiv, Ukraine

Vasyl Karpusha, Rector, Sumy State University, Ukraine

Chernega Oksana, Rector, Donetsk National University of Economics and Trade named after Mykhailo Tuhan-Baranovskyi, Ukraine

Andrii Dligach, Professor, Taras Shevchenko National University of Kyiv, cofounder of the Center for Economic Recovery, Ukraine

Nadiia Hrazhevska, Professor, Taras Shevchenko National University of Kyiv, Ukraine

Andriy Stavytskyy, Professor, Taras Shevchenko National University of Kyiv, Ukraine

Oleksandr Deineha, Vice-Rector for Research, Rivne State University of Humanities, Ukraine

Oleksandr Velychko, Professor, Head of Management and Law Department,  Dnipro State Agrarian and Economic University, Ukraine

Olena Liashenko, Professor, Taras Shevchenko National University of Kyiv, Ukraine

Hlib Vyshlinsky, Executive Director, Centre for Economic Strategy, Ukraine

Taras Kozak, UNIVER Investment Group, President, Ukraine

Svitlana Kucherenko, Dean of the Faculty of Financial, Economic and Vocational Education,  Hryhorii Skovoroda University in Pereiaslav, Ukraine

Iryna Zhyhlei, Profesor, Zhytomyr State Technological University, Ukraine

…and 180+ Professors from Ukraine