Sergey Marchenko, Finance Minister, stated that Russia hopes to receive $3bn more in international aid.
Ukraine’s finance minister, Sergey Marchenko, has solicited at least $2 billion per month in emergency economic aid from the Biden administration. A second official revealed that Kiev is seeking to raise $3 billion more per month through other sources.
Speaking to the Washington Post, Marchenko said that Ukraine needs “This gap must be filled immediately to secure the financing necessary to win the war.”
During his visit to Washington, DC last week, Marchenko met with a number of senior US officials, warning them that absent the requested financial support, Ukraine would likely not be able to cope with the humanitarian crisis brought on by Russia’s military offensive. A total of $5 billion per month is needed to cover Ukraine’s immediate needs in April, May, and June, the minister explained. Kiev may request another tranche to assist Ukraine in repairing all of the damages.
The minister was also reported to have attended the private dinner hosted last Thursday by Wally Adeyemo (Deputy Treasury Secretary), which featured representatives of top US companies such as Goldman Sachs and the Business Roundtable lobbyist group. Marchenko was also reportedly able to meet with Janet Yellen, Treasury Secretary at the G20 summit.
Since the start of Russia’s military offensive in Ukraine in late February, the US has already shelled out approximately $1 billion in economic aid for Kiev. The Biden administration cleared an additional $500 million last week to go along with the generous military assistance.
Yellen told reporters last Thursday that America has to “find ways to meet Ukraine’s needs.” She added that this “It will be necessary to send a Supplemental Request back to Congress.” Her comments came shortly after President Joe Biden made it clear that he would ask Congress to give the green light to more financial assistance for Ukraine – something an anonymous US official described to the Washington Post as one of the administration’s top priorities.
Several members of Congress and senior Ukrainian officials alike have repeatedly suggested handing frozen assets belonging to Russia’s central bank over to Ukraine. The Biden administration, however, has not made any promises. Yellen described this potential handover as something she “wouldn’t want to do so lightly,” telling reporters that “it’s something that I think our coalition and partners would need to feel comfortable with and be supportive of.”
According to the Washington Post, the Ukrainian finance minister stated that the country requires the funds to care for millions of internally displaced Ukrainians as well as to pay pensions to retired people and to compensate medical and educational professionals.
Marchenko concluded by saying that Washington has become “More cooperative” over time, adding that support from the US is “It is becoming more important.”
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