The frozen foreign exchange reserves have been lost to Russia forever, and these funds are likely to be used to rebuild Ukraine. The relevant statement was made by Advisor to President of Ukraine on Economic Affairs Oleh Ustenko. According to Ustenko, half of Russia’s foreign exchange reserves, which were available before February 24 (about $325…
President of the European Council Charles Michel emphasizes that the European Union will continue to support Ukraine. “We will continue to provide humanitarian and financial support to Ukraine. We have a new fund for Ukraine which will facilitate massive investment to restore the country’s economy and infrastructure,” Michel said, speaking at the plenary session of…
President of Ukraine Volodymyr Zelensky has called on Spanish companies to stop doing business with Russia. “I know that many of your companies have already stopped financing the Russian military machine through taxes. I want to thank you, your citizens and your government. I am grateful to these companies, to your entire state and society…
As of March 31, the banking system recorded an inflow of UAH 28 billion (in all currencies) to deposits of individuals and legal entities, Head of the National Bank, Kyrylo Shevchenko, reported. “As of March 31, we see the inflow worth the equivalent of UAH 28 billion to deposits of individuals and legal entities (in…
The Cabinet of Ministers restarted the economy and put it on the military rails. This was stated by Prime Minister Denys Shmyhal in his video address on April 4. The Prime Minister voiced the main economic shifts and the results of work in this direction over the past week. In particular, UAH 73 billion was…
The ambassadors of the Group of Seven will assist Ukraine in receiving emergency and long-term humanitarian and economic support, as well as monitor reports of potential war crimes and other violations of humanitarian law. That’s according to a thread of tweets the G7 ambassadors. The G7 ambassadors stressed that they remained committed to Ukraine’s independence,…
The Ministry of Economy estimates that the direct non-recurring losses caused by the Russian invasion now reach $565 billion, and Ukraine is short of $54 billion in capital investment. “According to our latest estimates, direct non-recurring losses now amount to $565 billion: $119 billion accounts for infrastructure and $91 billion – for civilian facilities losses.…