The Americans are pushing the EU to allocate commensurate amounts.

The United States is ready to allocate $1.5 billion to Ukraine every month until the end of the war to finance the budget.

Washington is also pushing the European Union to allocate commensurate amounts,  Bloomberg writes,  citing people familiar with the negotiations.

It is noted that for the first time this was announced by First Deputy Assistant Secretary of State for European and Eurasian Affairs Derek Hogan, but then it was about funding for four to five months

However, already in September, the Ministry of Finance submitted to the Verkhovna Rada a draft budget with a trillion-dollar deficit. Minister Sergei Marchenko explained that the Cabinet of Ministers is counting on $38 billion from partners.

EU leaders are scheduled to discuss Ukraine’s financial needs this week, included in the draft state budget.

The American side has already told the diplomats who are preparing this summit that Europe is expected to receive the same level of funding that the United States is ready to provide.

Allies are discussing setting up a more regular bailout mechanism to help keep Ukraine’s economy afloat without cash gaps, Bloomberg sources say.

Consequences of the war

On February 24, 2022, the Russian Federation launched a full-scale invasion of Ukraine.

In April, the World Bank  cut its forecast  for global economic growth for the current year by nearly a full percentage point to 3.2% from 4.1% due to the fallout from Russia’s invasion of Ukraine.

On May 17, one of the richest businessmen in the world, Elon Musk, announced that  a recession had already begun in the US economy .

On May 26, World Bank President David Malpass said that the war in Ukraine could trigger a  global recession .

On July 29, EU High Representative for Foreign Affairs and Security Policy Josep Borrell  said that  Russia’s GDP will shrink  by 10% this year.

As UNIAN previously reported, a full-scale war of the Russian Federation against Ukraine will cost the global economy $2.8 trillion by the end of next year.

(C)UNIAN 2022