Ukraine has accused Germany and other EU members of blocking funds previously approved by the bloc for the country, which is facing a financial crisis because of the war with Russia, DPA and BTA reported.
“We expect 8 billion euros, but unfortunately certain EU countries, including Germany, are blocking the implementation of this tranche,” said Ihor Zhovka, deputy head of the office of the Ukrainian president.
President Volodymyr Zelenskiy is conducting “active negotiations” on this issue, Zhovka added. According to him, Kyiv has received 1 billion euros from the financial aid of 9 billion euros promised by the EU in May.
The remaining funds may require guarantees from the member states, according to the European Commission, as it is not possible to provide them from the EU budget due to a lack of resources.
Several international rating agencies downgraded Ukraine’s credit rating in July. The largest state company “Naftogaz” a week ago failed to pay its foreign debt obligations as ordered by the government.
Ukraine’s needs for additional financing are estimated by the presidential administration at nearly 50 billion euros for 2023.
–
