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Ukrainian President Zelenski is seeking the creation of a compensation fund from Russia, while the US rating agency Moody’s has again downgraded Ukraine’s creditworthiness.
The President of Ukraine Volodymyr Zelenski proposed during a video message the creation of a fund to compensate the states attacked by Russia.
Zelenski said the partner countries should work together to develop a mechanism so that “all those who have suffered from Russia’s actions” receive compensation for their losses. This can be regulated through a multilateral agreement.
To create this fund, the Ukrainian President proposed the freezing of Russian capital and property abroad and their transfer to this fund. “Such a step is right,” he said, “because then Russia will” feel the real weight of every missile, every bomb, every shell. ” The Russian military attacked the neighboring country three months ago. According to estimates, war damages in Ukraine have already written into several hundred billion euros.
Zelenski told Ukrainian television ICTV that the war could ultimately end only through diplomacy. “There are things we can only achieve at the negotiating table.” he said but the results of the negotiations should be “appropriate and fair” for Ukraine.
Moody’s: Ukraine’s debt could be ‘unaffordable’
Meanwhile, the US rating agency Moody’s again downgraded Ukraine’s creditworthiness and outlined a negative outlook. According to Moody’s, the extremely low Caa3 level that the country has reached in the meantime is not stable either.
This means that creditors in the private sector are threatened with losses, and despite widespread financial support from the international community, there is a risk that Ukraine’s national debt, which has risen sharply, will be “volatile in the medium term,” Moody’s explained. ./DW
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