The Ukrainian president, Vladimir Zelensky, recently estimated that kyiv needs about 5,000 million dollars a month to cover the deficit in its public coffers.
The leaders of the Group of Seven (G7), made up of Germany, Canada, the US, France, Italy, Japan and the UK pledge to support Ukraine “for as long as necessary,” according to a draft statement to which the agency Bloomberg claims to have had access.
“We will continue to provide financial, humanitarian, military and diplomatic aid and we will be with Ukraine as long as necessary,” the document said. The G7 summit kicked off this Sunday at Elmau Castle, in the German state of Bavaria , and will last until June 28.
Other restrictions against Moscow
This day, the president of the United States, Joe Biden, assured that the group will announce a ban on imports of Russian gold through which Moscow generates “tens of billions of dollars“. The step has already been confirmed by the British government, which announced that, as of today, no new Russian gold exports will be able to enter the United Kingdom, Canada, the US and Japan “thanks to the new tough measures.”
For his part, the Secretary of the US Department of State USA, Antony Blinken, noted in an interview for CNN that the majority of Russian gold exports were destined for the G7 countries, so Moscow would lose about 19,000 million a year because of this ban.
Meanwhile, Washington and its allies are holding “very constructive” discussions about the possibility of imposing limits on Russian oil prices , reported Reuters, citing a German government official. Bloomberg reported with reference to its sources that the measure will be carried out through the imposition of a cap on the insurance and transportation of Russian crude.
How much does Ukraine need to stay afloat?
Ukrainian President Vladimir Zelensky declared this June 20, in his speech to the participants of the Global Policy Forum of the Institute for International Political Studies (Milan, Italy), that kyiv needs some 5,000 million dollars each month to cover the deficit of its public coffers. “It’s not just a number, it’s not about money. It’s about how many millions of Ukrainians will continue to have something to live for. Living in Ukraine,” he remarked. with Russia. “Imagine what it would be like if half of Italy’s economy was completely blocked. Its industrial part and all its ports. No state can survive such a situation without financial assistance,” he summarized.
On June 14, an initiative was introduced in the Ukrainian Verkhovna Rada (Local Parliament) that urges Zelenski and the Executive to write off the external public debt. According to data from the country’s Ministry of Finance, the external debt reaches 56,830 million dollars . Of that amount, kyiv must repay more than 3,300 million by the end of the year, they detail local media.