The amount Ukraine has requested from the EU in financial aid for 2024. EU reaction: “It’s too soon”

Saturday, April 29, 2023, 8:28 p.m

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Valdis Dombrovskis Photo / Twitter Valdis Dombrovskis

Ukraine’s Finance Minister Serhii Marchenko told his counterparts from the European Union on Saturday. Ukraine At least 18 billion euros in macro-financial aid will be needed next year, the same amount given to Kiev by the EU bloc this year, and he has demanded that Ukraine’s reconstruction begin before the end of the war. RussiaEFE reports.

“It’s not easy to drastically reduce our spending, it depends on the military campaign, but I think (financial assistance of the European Union, ed.) will not be less than the 18 billion that we see this year” , the Ukrainian minister was invited to the meeting of European finance ministers held in Stockholm.

European ministers reiterated their countries’ continued support for Ukraine and expressed their “full commitment” to the country’s reconstruction, but said they considered it premature to put forward a figure for financial aid to Kiev next year. This year and in 2022 it is financed by issuing common debt within the EU.

“If the political will is here, the next aid package can be prepared. But, as we are still in the first half of the year, it is too early to talk about the exact amount (2024) and the situation is uncertain. In the context of war”, he explained the Vice President of the European Commission, Valdis Dombrovskis.

The International Monetary Fund (IMF) estimates Ukraine’s need for financial assistance at $40 billion for 2023-2024, which will be needed to finance the country’s reconstruction if the war ends by the middle of next year, according to the World Bank. $411 billion, more than double Ukraine’s pre-war annual GDP.

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For the last purpose of freezing Russian assets in the West, as requested by Kiev, Dombrovskis recalled that the European Commission is currently examining whether this is legally possible and how to implement it. Brussels says Russian assets have been frozen due to sanctions imposed on Russia after it launched a war against Ukraine. “According to international law, the occupying power has an obligation to pay reparations,” Dombrovskis said.

As a result of these sanctions, assets of Russian oligarchs worth almost 19 billion euros were frozen in the EU, Western countries and their allies in the G7 (EU, to usEngland, Canada And Japan) blocked access to about $300 billion in Russia’s foreign exchange or gold reserves. Moscow As a “theft”.

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