Zhovkva about EUR 50 bln for Ukraine following G7 summit: no risk that these funds won't be delivered
Deputy Head of the Office of the President Ihor Zhovkva, in an exclusive interview with Interfax-Ukraine, stated that there is currently no risk that partners will not transfer EUR 50 billion to Ukraine from the income from frozen Russian assets, a decision made at the Group of Seven summit last week.
"The decision was made based on the results of the summit, but the discussions were not easy. However, there was never a question of whether or not to provide us with these [EUR] 50 billion. The question was the mechanism, specifically how to provide the funds. But the decision and the basis of the mechanism have been determined. Therefore, there is no risk that these [EUR] 50 billion will not be provided," he said.
Moreover, according to Zhovkva, "we already understand the approximate timelines when the first tranches will start arriving."
When asked if the amounts would reach Ukraine by the end of the year, he said, "By the end of the year, I think they will."
"Negotiations are now underway at the technical level on how to not only allocate but also cover this agreement, because it is issued against Russian assets, which should already be operational," said the deputy head of the President's Office.
According to Zhovkva, "we are already achieving our goals when Russian assets are working. Not only taxes on interest from frozen assets, which are already functioning according to the EU's decision, but the principal amount is now starting to work. However, this is still not the goal Ukraine wants to achieve, because we want the entire 'body' of these assets to be operational."
Furthermore, he noted that "we need these funds for weapons, which is very important, for reconstruction, and for budget support."
When asked if there is already any agreement from partners regarding Ukraine's free use of these funds once received, he responded, "There are very few things that Ukraine is not allowed to do now. We are reasonable in our aspirations and demands. But what Ukraine needs for victory must be permitted."
As reported, the G7 countries decided at the summit on June 13 to transfer EUR 50 billion to Ukraine secured by Russian assets.
