With Ukraine losing ground, allies debate how to squeeze cash for Kyiv out of frozen Russian assets
FRANKFURT, Germany — Ukraine’s allies are wrestling with how to squeeze money out of frozen Russian assets to support Kyiv’s war effort, a debate that is ever more urgent as Russia gains territory on the battlefield and as the outlook for Ukraine’s state finances looks shakier.
A European plan to merely use the interest on the Russian funds would provide only a trickle of money every year — some $2.5 billion-$3 billion at current interest rates. That would barely meet a month’s financing needs for the Ukrainian government. She said $50 billion “has been mentioned as a possible number that could be achieved” from the assets, but that the specific approach was still under discussion.
Ukraine depends on its allies for that money because the war keeps the government from accessing international bond market borrowing. The alternative would be printing money at the central bank, which risks igniting hyperinflation. Yellen will also raise China’s outsized, state-backed production of green energy technology, which the U.S. considers a threat to the global economy. It has been a little more than a month since she traveled to China to speak with her counterparts in Guangzhou and Beijing about the nation’s massive subsidies to its electric vehicles, batteries, solar energy equipment and other products.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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