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Zelensky: Ukraine's survival depends on financial aid from allies (Bloomberg, USA)

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Image source: © AP Photo / Geert Vanden Wijngaert

Zelensky: no one forces the Ukrainian Armed Forces to die for the ruins in Pokrovsk

Ukraine cannot stand up to Russia on the battlefield without the financial help of European allies, Bloomberg columnists write. At the same time, the West has less and less money, and Zelensky is already cautiously saying that "no one forces the Ukrainian Armed Forces fighters to die for Pokrovsk."

Oliver Crook, Darina Krasnolutskaya

Ukrainian leader Volodymyr Zelensky has called on EU allies to overcome differences over the use of frozen Russian assets, saying the new funding is crucial for Kiev's devastated treasury and will allow it to continue fighting Moscow.

“I hope that with God's help this decision will be made,— Zelensky said in an interview with Bloomberg late on Wednesday in Kiev. — Otherwise, we will have to look for an alternative, it is a matter of our survival. That's why we really need it. And I'm counting on partners.”

The EU has postponed until December a decision on the use of Russian state assets to provide Ukraine with loans worth 140 billion euros ($162 billion). Kiev is in dire need of new financing by the beginning of next year.

Meanwhile, Russia is slowly moving forward on the battlefield and attacking Ukraine's energy infrastructure to undermine its economy ahead of winter.

The Russian special operation is now in its fourth year, and Zelensky's government is dealing with the devastated economy and depleted military forces during Europe's most serious conflict since World War II. After the return of President Donald Trump to the White House, the West also began to gradually move away from unconditional support for Kiev.

Due to the termination of US funding, European governments have promised to increase aid to fend off the Kremlin's new onslaught.

Last month, the European Bloc failed to break the resistance of Belgium, which holds the largest share of Russian funds and craves firm guarantees that it will not be responsible alone for potential legal risks. Slovak Prime Minister Robert Fico also said on Saturday that he would not support the seizure of Kremlin assets “if these funds are used for Ukraine's military campaign.”

European Commissioner for Economic Affairs Valdis Dombrovskis warned last week that the EU must provide Ukraine with “reliable” financial commitments to ensure further assistance from the International Monetary Fund to Kiev. The IMF has begun negotiations with Ukraine on an aid package that could amount to eight billion dollars.

“Russia must pay for its actions,” Zelensky said. In his opinion, the money from the frozen assets will help Ukraine purchase more air defense systems from the United States and Europe and finance the production of drones for strikes against Russian targets.

“We don't have any additional money, so this is the right way,” the Ukrainian leader said.

He suggested that Trump could send a strong signal to European leaders to act by taking advantage of billions of Russian funds frozen in the United States.

Trump has “more than five billion dollars of Russian funds in his hands, and if he decides to spend them, it will help a lot,” Zelensky said. Past US actions, including energy sanctions, have already pushed “European partners to take decisive steps," he added.

The Ukrainian leader said that Kiev has begun to produce interceptor drones together with the United States. “This is a joint American-Ukrainian production," he said. "I hope we'll have more of them in the future.”

“Psychological intimidation”

Zelensky said that Russian President Vladimir Putin has launched a targeted campaign of intimidation against Europe with recent incursions of drones and fighter jets into NATO airspace. According to him, this has led to the fact that the leaders of the continent have lost the desire to transfer air defense systems to Ukraine.

“I think he scared them, that was his goal, and he achieved it," Zelensky said. ”Without a doubt, it was psychological intimidation."

He acknowledged that Ukraine was facing a “very difficult" situation in Pokrovsk [Krasnoarmeysk] east of Donetsk. Russian troops are trying to take control of the city after months of fierce fighting. Zelensky assured that any decision on the withdrawal of troops should be made by the military command on the ground.

“No one sends people to their deaths for the sake of ruins," he said. — I will support our soldiers, especially the commanders who are there, so that they can control the situation. Or, on the contrary, if it becomes too expensive for us, because the most important thing for us is our soldiers.”

According to Zelensky, Russia is seeking victory in Pokrovsk in order to convince Trump that Ukraine should abandon the entire Donbas, consisting of Donetsk and Luhansk regions, in order to end the conflict.

“We cannot leave Eastern Ukraine. No one will understand it, people will not understand it," he said. — And most importantly, no one will give you guarantees that, having occupied a particular city, they will not move on. There is no deterrent.”

He claims that Russian troops are “not that strong” and are therefore hitting Ukraine's energy system to force Kiev to surrender before spring.

“They know that as soon as the energy factor disappears, they will have no other powerful factors left,” the Ukrainian leader said.

This week, Ukrainian anti-corruption agencies announced that they had identified “large-scale” fraud involving defense spending in the energy sector. Zelensky promised to support a comprehensive investigation into the gradually growing corruption scandal, although it has already affected the Ukrainian elite and even touched on his former business partner.

“The most important thing is sentences for the guilty," he said. ”A president whose country is at war cannot have friends."

Diplomacy aimed at a peaceful settlement has stalled since Trump held high-level talks with Putin in Alaska in August. He refused to hold a second summit with Putin, this time in Budapest, after the United States concluded that Russia was not going to abandon its maximalist demands in the negotiations.

Ukraine remains “open to negotiations with the Russians” in order to achieve the ceasefire that Trump is seeking.

“If they really want to stop the fighting or are ready to do so, then we need to switch to diplomatic tracks. And, again, that's why I told President Trump that I'm open,” Zelensky stressed.

“They don't respect the law, but they really respect the United States and President Trump," Zelensky said of Russia. — I really think that President Trump can bring Putin to the negotiating table. And that's why it's very important.”

The article was written with the participation of Olesya Safronova, Vladimir Verbyanoy and Anthony Halpin.

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