London Daily

Focus on the big picture.
Thursday, Oct 09, 2025

Ukraine War: Country needs $7bn a month in aid, Zelensky says

Ukraine War: Country needs $7bn a month in aid, Zelensky says

Ukraine's president has told the world's finance ministers his country needs $7bn (£5.4bn) every month until the summer to keep functioning.
Volodymyr Zelensky also said "we will need hundreds of billions of dollars to rebuild all this later".

He was addressing an International Monetary Fund (IMF) and World Bank conference via video link from Kyiv.

The World Bank has estimated that about $60bn of physical damage has so far been inflicted on Ukraine.

Mr Zelensky also said the global community needed to exclude Russia immediately from international financial institutions, including the World Bank, IMF and others.

All countries "must immediately be prepared to break up all relations with Russia," he added.

Asked whether the IMF would be able to secure the immediate funding that Ukraine needs, the organisation's managing director Kristalina Georgieva told BBC economics editor Faisal Islam: "We found it for the first and second month.

"We believe that over time this amount is going to go down as the Ukrainian economy in the parts of the country that are not under occupation picks up, and as remittances from those who now work somewhere else start flowing."

Meanwhile, US Treasury Secretary Janet Yellen said Russia should be made to pay some of the cost of rebuilding Ukraine after the war.

It came as some nations have called for seized Russian assets to be used to fund the country's reconstruction.

However, Ms Yellen cautioned that using seized Russian central bank reserves in the US to rebuild Ukraine would be a "significant step" that would need discussions and agreement with international partners.

Ukrainian Prime Minister Denys Shmyhal, who attended the conference in person, said the country's economic output could decline by as much as 50%, with direct and indirect losses so far totalling $560bn.

That figure is more than three times the size of Ukraine's gross domestic product (GDP), which stood at $155.5bn in 2020, according to the World Bank.

"If we do not stop this war together, the losses will increase dramatically," Mr Shmyhal said, adding that Ukraine would need a reconstruction programme similar to the post-World War Two Marshall Plan that helped to rebuild Europe.

World Bank President David Malpass, meanwhile, said the damage to Ukraine's buildings and infrastructure from Russia's invasion had reached around $60bn and warned that the figure will rise further as the war continues.

Mr Malpass said the early estimate of "narrow" damage costs does not include the growing economic impact on Ukraine.

Also on Thursday, the US imposed further sanctions on Russian ships, while the UK targeted luxury goods including caviar, silver and diamonds with import bans and higher tariffs.

But the Biden administration backed Germany's caution on the European Union proceeding too fast with further sanctions on Russian energy, saying it could cost Europe more than Russia.
Comments

Oh ya 3 year ago
Yup send 7bn a month to one of the most corrupt governments in the world and you be sure a buck sixty three will go to the people.

Newsletter

Related Articles

0:00
0:00
Close
France: Less Than a Month After His Appointment, the New French Prime Minister Resigns
Hungarian Prime Minister Viktor Orbán stated that Hungary will not adopt the euro because the European Union is falling apart.
Sarah Mullally Becomes First Woman Appointed Archbishop of Canterbury
Mayor in western Germany in intensive care after stabbing
Australian government pays Deloitte nearly half a million dollars for a report built on fabricated quotes, fake citations, and AI-generated nonsense.
US Prosecutors Gained Legal Approval to Hack Telegram Servers
Macron Faces Intensifying Pressure to Resign or Trigger New Elections Amid France’s Political Turmoil
Standard Chartered Names Roberto Hoornweg as Sole Head of Corporate & Investment Banking
UK Asylum Housing Firm Faces Backlash Over £187 Million Profits and Poor Living Conditions
UK Police Crack Major Gang in Smuggling of up to 40,000 Stolen Phones to China
BYD’s UK Sales Soar Nearly Nine-Fold, Making Britain Its Biggest Market Outside China
Trump Proposes Farm Bailout from Tariff Revenues Amid Backlash from Other Industries
FIFA Accuses Malaysia of Forging Citizenship Documents, Suspends Seven Footballers
Latvia to Bar Tourist and Occasional Buses to Russia and Belarus Until 2026
A Dollar Coin Featuring Trump’s Portrait Expected to Be Issued Next Year
Australia Orders X to Block Murder Videos, Citing Online Safety and Public Exposure
Three Scientists Awarded Nobel Prize in Medicine for Discovery of Immune Self-Tolerance Mechanism
OpenAI and AMD Forge Landmark AI-Chip Alliance with Equity Option
Munich Airport Reopens After Second Drone Shutdown
France Names New Government Amid Political Crisis
Trump Stands Firm in Shutdown Showdown and Declares War on Drug Cartels — Turning Crisis into Opportunity
Surge of U.S. Billionaires Transforms London’s Peninsula Apartments into Ultra-Luxury Stronghold
Pro Europe and Anti-War Babiš Poised to Return to Power After Czech Parliamentary Vote
Jeff Bezos Calls AI Surge a ‘Good’ Bubble, Urges Focus on Lasting Innovation
Japan’s Ruling Party Chooses Sanae Takaichi, Clearing Path to First Female Prime Minister
Sean ‘Diddy’ Combs Sentenced to Fifty Months in Prison Following Prostitution Conviction
Taylor Swift’s ‘Showgirl’ Launch Extends Billion-Dollar Empire
Trump Administration Launches “TrumpRx” Plan to Enable Direct Drug Sales at Deep Discounts
Trump Announces Intention to Impose 100 Percent Tariff on Foreign-Made Films
Altman Says GPT-5 Already Outpaces Him, Warns AI Could Automate 40% of Work
Singapore and Hong Kong Vie to Dominate Asia’s Rising Gold Trade
Trump Organization Teams with Saudi Developer on $1 Billion Trump Plaza in Jeddah
Manhattan Sees Surge in Office-to-Housing Conversions, Highest Since 2008
Switzerland and U.S. Issue Joint Assurance Against Currency Manipulation
Electronic Arts to Be Taken Private in Historic $55 Billion Buyout
Thomas Jacob Sanford Named as Suspect in Deadly Michigan Church Shooting and Arson
Russian Research Vessel 'Yantar' Tracked Mapping Europe’s Subsea Cables, Raising Security Alarms
New York Man Arrested After On-Air Confession to 2017 Parents’ Murders
U.S. Defense Chief Orders Sudden Summit of Hundreds of Generals and Admirals
Global Cruise Industry Posts Dramatic Comeback with 34.6 Million Passengers in 2024
Trump Claims FBI Planted 274 Agents at Capitol Riot, Citing Unverified Reports
India: Internet Suspended in Bareilly Amid Communal Clashes Between Muslims and Hindus
Supreme Court Extends Freeze on Nearly $5 Billion in U.S. Foreign Aid at Trump’s Request
Archaeologists Recover Statues and Temples from 2,000-Year-Old Sunken City off Alexandria
China Deploys 2,000 Workers to Spain to Build Major EV Battery Factory, Raising European Dependence
Speed Takes Over: How Drive-Through Coffee Chains Are Rewriting U.S. Coffee Culture
U.S. Demands Brussels Scrutinize Digital Rules to Prevent Bias Against American Tech
Ringo Starr Champions Enduring Beatles Legacy While Debuting Las Vegas Art Show
Private Equity’s Fundraising Surge Triggers Concern of European Market Shake-Out
Colombian President Petro Vows to Mobilize Volunteers for Gaza and Joins List of Fighters
×