Zelenskyy and ECB President Discuss Budget Support and Frozen Russian Assets
President Volodymyr Zelenskyy met with European Central Bank (ECB) President Christine Lagarde in Kyiv on Wednesday to discuss critical budgetary support for Ukraine amid Russia’s ongoing invasion.
The Gaze reports on this with reference to the Office of the President of Ukraine.
The two leaders also addressed the potential use of frozen Russian assets and mechanisms to ensure long-term international backing.
Welcoming Lagarde to the Ukrainian capital despite recent Russian strikes, Zelenskyy praised her visit as a strong gesture of solidarity.
“We deeply appreciate your presence here, especially after the latest attacks on our civilians and infrastructure. In wartime, such actions demonstrate true friendship,” Zelenskyy said during the meeting.
A key focus of the talks was the urgent need to secure continued financial assistance to maintain Ukraine’s essential public services.
Despite the war, Ukraine remains committed to paying salaries, pensions, and providing social support to its citizens, Zelenskyy noted.
The President thanked Lagarde for the €50 billion credit extended through the G7’s Extraordinary Revenue Acceleration for Ukraine (ERA) initiative, calling it a critical contribution to Ukraine’s fiscal resilience.
The leaders also discussed legal pathways for utilizing frozen Russian sovereign assets to fund Ukraine’s recovery and defense efforts.
Zelenskyy underlined the need for coordinated international sanctions enforcement and mechanisms to prolong asset freezes.
Lagarde reaffirmed the ECB’s commitment to Ukraine, praising the National Bank of Ukraine for maintaining macroeconomic stability under extreme conditions.
“Continued cooperation with European financial institutions is key to Ukraine’s long-term resilience and European integration,” she noted.
The conversation also touched on Ukraine’s macro-financial stability, coordination with international partners, and steps toward deeper EU alignment.
As The Gaze reported earlier, the EU is considering plans to channel nearly €200 billion in frozen Russian assets into higher-yield investments, aiming to significantly boost support for Ukraine.