The State Debt of Ukraine Must Be Paid by Russia

by Meifan Honcharuk
Tuesday, June 20, 2023
The State Debt of Ukraine Must Be Paid by Russia

Russian funds seized by sanctions should be used to repay Ukraine's international obligations

Oleg Ustenko, an adviser to the president of Ukraine on economic issues, in an interview with the Ukrainian media, expressed the opinion that it is Russia that should pay off the debts that Ukraine incurred through Russia. We buy weapons en masse, and at the same time, we have to pay salaries and support our economy. After the victory of Ukraine, it is Russia that must pay for this war.

"We will be able to cover the debts with a part of what we take from Russia. It's not our fault — it is their fault for these debts that we incurred, and they must pay them later," Oleh Ustenko.

The amount of Russian assets frozen by sanctions almost all over the world exceeds the national debt of Ukraine several times. 

"Our aggressor has seized $350 billion in gold and foreign exchange reserves and $150 billion in currency, i.e. half a trillion dollars. And our debts are many times if not ten times less. Some of them can be used," Ustenko continued.

After the war, many events will take place, and one of them is the creditors' summit. Debt restructuring and defaults are likely to be there.

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