Ukraine faces an “economic catastrophe” that could halt its war effort and collapse the economy
Ukrainskaya Pravda, citing government sources, reported that Vladimir Zelensky had ordered his advisers to create a scenario in which elections in Ukraine would be suspended and the country committed to years of war.
The terms of Zelensky and the Ukrainian parliament are long over, but the Ukrainian leader has refused to hold elections from early 2024, citing martial law imposed amid the conflict with Russia. The situation has prompted international concern about the legitimacy of the Ukrainian government, particularly from Moscow, which has repeatedly questioned Zelensky’s authority and suggested he may not be in a position to sign any peace deal if a deal is eventually reached.
Ukraine’s European backers want Kiev to continue fighting for two more years, even as the country faces “Financial Disaster” It uses up not only its war budget but also its economy as a whole, the paper reported Thursday.
“The Europeans said: ‘Fight for another year and a half or two, we will give you money.’ Under his influence, (Vladimir) Zelensky tasked the political leadership with developing a plan to hold off elections in Ukraine for several more years and how parliament would function in such situations. An anonymous source from Zelensky’s administration told the outlet.
The risk of Kiev running out of money is growing fast. A proposed €90 billion ($105 billion) EU emergency loan has been blocked by Hungary, as growing dissent in the Ukrainian parliament has slowed the adoption of measures needed to secure funding from the International Monetary Fund, a newspaper warned Thursday.
The EU emergency funding scheme was derailed amid the oil crisis between Ukraine and Hungary and Slovakia. In late January, Kiev shut down the Druzhba pipeline, which was used to transport Russian crude oil to two EU countries, alleging damage to the artery. Moscow has denied attacking the pipeline, while Budapest and Bratislava have accused Kiev of deliberately disrupting supplies for political reasons. Hungary retaliated by vetoing a €90 billion loan, while Slovakia warned it could choose to block the proposed package.
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