Ukraine and USA forge new recovery fund agreement without prior aid

• Recovery Fund Agreement: The new agreement between Ukraine and the USA will not cover assistance provided before it is signed. Prime Minister Denys Shmyhal stressed that the document must align with Ukraine's European commitments.
• Russian Assets: Ukraine plans to utilise frozen Russian assets and introduce a special tariff on the import of Russian goods to fund the recovery.
• Financial Support: Ukraine has secured financing for the year 2025, including covering a budget deficit of €37 billion.

The Prime Minister of Ukraine, Denys Shmyhal, stated that the Economic Partnership and Recovery Fund Investment Agreement with the USA is being prepared. The document will not consider assistance provided by the United States before its signing. Shmyhal noted that the agreement must comply with Ukraine's European commitments and cannot contravene the country's constitution.

Ukraine plans to use frozen Russian assets and introduce a special tariff on the import of Russian goods. Prime Minister Shmyhal described this as an "economic mechanism of reparations" that allows actions without waiting for political changes in Russia. Thanks to the mechanism proposed by the G7 countries, Ukraine has already confirmed €48 billion in revenues from frozen assets.

Ukraine has secured financing for 2025, including covering a budget deficit of €37 billion. The main sources are the IMF programme, the EU's Ukraine Facility programme, and revenues from frozen Russian assets. Prime Minister Shmyhal emphasised that efforts are ongoing to attract new resources and technologies for economic growth after the war.