Economics
Ukraine Asks EU for Financial Aid With Russian Troops at Border
By- The new three-year package will help to repay debt obligations
- EU ready to help as long as Kyiv requests a new IMF program
Ukraine has appealed to the European Union for additional financial aid as the country struggles to meet its obligations and faces the threat of a potential invasion from Russian troops massing on its borders.
“We have formally requested from the European Commission a long-term, macro-financial program to ensure sustainable financing in the upcoming years,” Yuriy Butsa, Ukraine’s commissioner for public debt management, said via WhatsApp.
The commission is ready to provide further support to Ukraine as long as its package, likely to last for three years, runs in parallel with a new program of support from the International Monetary Fund, a commission spokesperson said. The executive arm of the EU will discuss support for Ukraine with IMF officials in the coming weeks to ensure that it’s in line with the conditions set by the Fund.
Ukrainian President Volodymyr Zelenskiy is facing increasing financial and military pressure with the U.S. on Wednesday accusing Russia of intensifying preparations for a possible invasion. The U.S. has been monitoring the buildup of Russian forces near Ukraine’s eastern border and Secretary of State Antony Blinken promised to hit Moscow with “high-impact economic measures” in the event of an attack.
The Kremlin denies any plan to invade Ukraine and accuses the U.S. and NATO allies of provocative actions near Russia’s border.
Read more: Blinken Warns Russia to Halt Aggressive Moves Near Ukraine
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