Ukraine set its own conditions for allocation of US$50 billion
Ukraine had its own key conditions for the allocation of US$50 billion, in particular, that the country should receive it this year and that the funds should be unconditional.
Source: Serhii Marchenko, Ukraine’s Finance Minister, on the air during the national joint 24/7 newscast
Details: Marchenko noted that, in turn, Ukraine was also involved in resolving the issue of the correct allocation of US$50 billion from Russian assets. Kyiv had the following key conditions:
- Ukraine must receive the funds this year;
- the funds should be unconditional;
- the funds should be used for any purpose and expenditure that Ukraine needs.
Quote: "We have been listened to, and I hope that the technical solution we are discussing now will implement this. In addition, this allows us to move forward with the main track - asset confiscation, which we also insisted on," the minister added.
Marchenko said that without the decision to allocate US$50 billion, 2025 looked completely uncovered for Ukraine, not only in terms of military spending but also in terms of social and humanitarian spending.
Quote: "We did not have the assurances we needed. Now, I hope, we have received these assurances, and technical teams will develop these solutions, and then we have a prospect of forming a budget for 2025 so that it provides for all the expenditures we need," Marchenko said.
Background:
- Italian Prime Minister Giorgia Meloni revealed that the leaders of the Group of Seven reached a political agreement to provide Ukraine with around US$50 billion in financial support derived from frozen Russian assets.
- Prices for Ukrainian Eurobonds traded on Western markets have barely reacted to the historic decision to use US$50 billion of frozen Russian assets for Ukraine's benefit.
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