The head of the National Bank of Ukraine, Andriy Pyshnyy, announced expectations for access to frozen Russian assets in 2026 to cover the state budget deficit. According to him, throughout 2023-2024, Ukraine managed to avoid emission financing of the budget deficit thanks to active work in the domestic debt market and support from foreign partners.
This is reported by Finway
“And this remains our unwavering priority,” he emphasized.
It is worth noting that for 2025, Ukraine has international support, but 2026 raises concerns. Therefore, the country hopes to gain access to immobilized Russian assets to cover the budget deficit. Pyshnyy believes that allowing Ukraine to utilize Russian assets would be a fair measure to compensate for the damages caused by Russia.
According to estimates, as of the beginning of 2025, Ukraine’s total losses from the war reached $176 billion, while the cost of rebuilding the country is approximately $524 billion.
“We hope that 2026 will be the year when our country will receive funding, including from the ‘body’ of Russian assets,” Pyshnyy noted.
Additionally, Ukraine expects to receive a response from the European Union soon regarding its desire to access all $300 billion of Russian assets frozen in Western countries.