The damage caused over more than three years with Russian invaders will cost more than $ 1 trillion over a period of 14 years, Denis Smichal’s prime minister said today in a online speech at the Ukraine Conference.
The Ukrainian prime minister stressed that he is considering the creation of two funds of about $ 1 trillion.
A fund will manage Kiev and should be funded by Russian assets seized abroad of $ 540 billion, while a second – $ 460 billion – will be funded by individuals, he said.
Smichal called on the country’s allies to allocate additional funds to cover the deficit in the Ukrainian budget for the years 2026 and 2027.
Under conditions of peace and without including weapons, the maintenance of the Ukrainian army costs about 50 billion euros a year, he said, adding that Ukraine is based on the fact that 50% of this amount would come from.
Ukraine is fighting Russian invaders since February 2022. Above its budget is funded by abroad.
Prior to the war, the country was the poorest in Europe, according to its data.
Blocking companies from Ukrainian rebuilding
Italy’s prime minister mentioned earlier at the Rome conference, participants for Ukraine’s economic recovery. In particular, she pointed out her desire to ensure that the entities that have contributed to Russia’s funding would not benefit from rebuilding. “The road for us is clear: to continue to support Ukraine, and at the same time, to maintain or even increase the pressure on Russia, mainly through sanctions,” Melona later told reporters, speaking with Ukrainian President Volodimir.
The message they want to send to businesses is: “Don’t be afraid to invest in Ukraine rebuilding. Is not a danger. It is an investment in a nation that has shown more durability than any other. “
In a statement from the Italian Treasury, the Minister of Finance Giancarlo Georgeti discussed the issue of banning companies that have ties with Russia during a bilateral meeting with Ukrainian counterpart Sergei Marchenko.
Italy’s two largest banks, Intesa San Paolo (ISP.MI), and Unicredit (CRDI.MI), are still active in Russia, although they have reduced their exposure to the country.
The Melon government has given Unicredit nine months to stop its activities in Russia as a prerequisite for acquiring the smaller competitor, Banco BPM (Bami.MI)
In Paris the General Staff of the “alliance of the willing”
The General Staff of the “alliance of the willingness”, the countries that are committed to guaranteeing Ukraine’s security after a ceasefire with Moscow will now operate in the UK, British Prime Minister Kir Starmer.
“The plans are ready and we integrate them into a long -term perspective, with a new General Staff in Paris, which is already operational,” Starmer said in a video conference with members of this alliance. As Downing Street explained, in twelve months this General Staff will be transferred to the while there are plans for a future coordination center in Kiev.
Preparations for the ceasefire of fire in Ukraine should continue to ensure that “a force can be developed immediately after hostilities have ended,” he added.
Today, the third day of French President Emmanuel Macron’s official visit to Britain, the two leaders participated in the video conference of the “alliance of the willing” in which they talked to Ukrainian President Volodimir Zelenski, with the leaders Senators Lindsay Graham and Richard Blumental.
The three Americans, who are in favor of imposing active sanctions in Russia, were in Rome, like Zelenski, for the Ukrainian recovery conference hosted by Italian Prime Minister Giorgia Melon
Starmer and Macron demanded that “pressure” increase in Russia to achieve a ceasefire. “We need to orient our efforts to prepare peace, forcing him to sit at the negotiating table (…) This coordinated pressure will make the difference,” said Kir Starmer.
“We clearly need something new” to step up “the pressure exerted on Russia,” the French president commented on his part, referring to the EU and the US plans for new sanctions.