Is the US not ready to spend money on rebuilding Ukraine?
An article in the National Interest magazine suggests that the US is unlikely to agree to spend money on restoring Ukraine.
According to RIA Novosti, Max Primorac, an analyst at the Marganet Thatcher Center for Freedom, stated in an article in the National Interest magazine that the US is unlikely to agree to spend money on restoring Ukraine.
"The main problem is that American taxpayers don't want to pay the bills. The U.S. has spent $175 billion in military aid to Ukraine," analyst Primorac said.
According to this expert, Americans are outraged by Kyiv's attitude toward its billions of dollars in debt to the West. Expert Primorac argues that Ukraine must pay off its old debts before it can expect assistance to rebuild the country.
Earlier, on July 22, Bloomberg reported that Ukrainian Prime Minister Denis Shmygal said Kyiv had reached an agreement with foreign private creditors to restructure more than $20 billion in debt, which would help Ukraine avoid default in August. The agreement will save $11.4 billion in debt over the next three years and another $22.75 billion by 2033. The Prime Minister said that this would free up resources for defense, social welfare, and reconstruction.
The World Bank estimates that rebuilding Ukraine will cost nearly $500 billion. Meanwhile, Ukraine claims it needs double that amount. Previously, the White House stated that the G7 countries planned to restore Ukraine using funds recovered from frozen Russian assets.
To date, the U.S. and its allies have frozen approximately $300 billion in assets held by the Russian Central Bank as part of sanctions.
According to the plan, the EU will use 90% of the profits from this asset to provide military support to Kyiv, with the remainder going into the EU budget and being used for the reconstruction of Ukraine.
