Ukraine PM says Ukraine to spend Russian frozen assets for "urgent needs"
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Economics
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Ukraine PM says Ukraine to spend Russian frozen assets for "urgent needs"

Denis Shmyhal
assets

First of all, the Prime Minister of Ukraine expressed his gratitude to the USA for the leading role of the G7 in this difficult issue. According to him, Kyiv plans to focus on the implementation of "urgent needs" of Ukraine.

What is Ukraine planning to spend the frozen assets of the Russian Federation on?

In this vein, Denys Shmyhal noted that the government insists on using Russian assets to strengthen and restore Ukraine. The Prime Minister also said that he discussed the importance of confiscating Russian assets and directing them to Ukraine's needs with the director of the International Monetary Fund, Kristalina Georgieva.

Given limited resources, we will focus on urgent needs, such as repairing energy and critical infrastructure.

Denis Shmyhal

Prime Minister of Ukraine

At the same time, he emphasized that Ukraine is grateful to the US for leading consultations with the G7 countries regarding the confiscation of frozen Russian assets.

Since the start of the full-scale war, the US has committed nearly $45 billion in defense. We received 55 packages of military support. About $22.9 billion in grants. We really appreciate it, Shmyhal added.

How Ukraine can get help from the USA and partners

US Treasury Secretary Janet Yellen noted that Washington and the G7 allies are committed to supporting Ukraine.

Yellen also urged Congress to approve urgent funding for additional aid to Ukraine.

This is a humanitarian and moral imperative, as well as an economic war, given the significant negative impact of the war on the economy of the whole world, the head of the US Treasury emphasized.

Yellen also expressed fears that Russia could use the debate about aid to Ukraine in the US and partner countries as support for aggression.

I am afraid that Russia will see signs that the US and our allies are getting tired or finding increasingly difficult ways to support Ukraine, and this will give them hope that they can sit us out and wait for our resolve to fall, emphassed the chief of the US Treasury Department.

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