Ukraine is preparing action plan in case of US aid suspension

Ukraine is developing an action plan if the US financial assistance is to be suspended, says finance minister Serhii Marchenko.

Ukraine receives constant assurances from the US government that the funds will be forthcoming, so this option is the main one.

"We always hope for the best solution to the issue from the point of view of our interests, and we hope that a solution will be found in the lower house. And now there is every reason for that. We hope that the direct budget support will continue because it is important for the continuation of cooperation with the IMF and for the formation of a pool of partners who have confidence in the decisions made within the G7." 

The minister said that "plan B" in case of insufficient support from the United States involves asking all G7 countries to increase their contributions to replace the ally.

"It can be not only the G7 countries, but also others, such as Northern Europe, which also support Ukraine and are ready to lend a shoulder. There are various options, but I believe that there are sufficient grounds to expect positive decisions in Congress."

Marchenko also spoke about progress in using frozen Russian assets for the benefit of Ukraine. He noted that the solution lies not only in the political but also in the legal sphere, and there is hope that it will be found in the near future.

As for the EU assistance, Marchenko noted that the first tranche of  €4.5 billion will be received in March, and the next tranche of €1.5 billion is expected in April. These funds will be used to finance the budget deficit, primarily to fulfill the government's obligations to pensioners, doctors, and teachers.