Addressing a virtual World Bank session, Ukrainian President Volodymyr Zelensky listed the “five steps” required immediately in the wake of Russia’s continued war on Kyiv.
In his address to Thursday’s session, the president said the first step was immediate support for Ukraine, “so that Russian leaders know that war will not enable them to achieve any of their aggressive goals.”
“Secondly, Russia must be immediately barred from all international financial institutions,” he said.
In the third step, Zelensky said that Ukraine needed a special tax for the war, adding that “Russia, and after her any other aggressor, must pay for violating world stability.”
“Fourth, every country in the world must prepare now for a possible complete severance of all relations with Russia. And fifth, significant assets of the Russian state and representatives of the Russian elite have already been blocked,” he said. added the president.
The Ukrainian leader also accused Russia of threatening global food supplies with its invasion.
Russia’s blockade of Ukrainian Black Sea port cities has made it impossible for the country to export foodstuffs such as wheat, the BBC quoted Zelensky as saying.
The president added that Ukraine now needed around $7 billion a month due to severe ‘economic losses’ caused by the war – an increase from the $5 billion kyiv had previously said it needed each month. .
“The Russian military aims to destroy all objects in Ukraine that can serve as an economic basis for life. This includes railway stations, food warehouses and (and) oil refineries.”
Due to the war, food prices have skyrocketed in places that depend on the country’s grain exports, such as North Africa.
(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Standard has always endeavored to provide up-to-date information and commentary on developments that matter to you and that have wider political and economic implications for the country and the world. Your constant encouragement and feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even in these challenging times stemming from Covid-19, we remain committed to keeping you informed and updated with credible news, authoritative opinions and incisive commentary on relevant topical issues.
However, we have a request.
As we battle the economic impact of the pandemic, we need your support even more so that we can continue to bring you more great content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of bringing you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism we are committed to.
Support quality journalism and subscribe to Business Standard.