Ukrainian President Volodymyr Zelenskiy told a gathering of global finance leaders in Washington that his country needed $14.1 billion immediately for critical reconstruction projects, pleading with officials to use frozen Russian assets to help pay the cost.
(Bloomberg) — Ukrainian President Volodymyr Zelenskiy told a gathering of global finance leaders in Washington that his country needed $14.1 billion immediately for critical reconstruction projects, pleading with officials to use frozen Russian assets to help pay the cost.
The leaked trove of classified US documents on Ukraine is a mixture of true, false and outdated information, the country’s Defense Minister Oleksii Reznikov said. The leak would clearly appear to benefit Russia and its supporters, he said.
The UK and US imposed sanctions on key advisers to Russian billionaires Roman Abramovich and Alisher Usmanov, accusing them of having helped the oligarchs hide their assets to avoid financial penalties linked to Russia’s invasion of Ukraine. The US also imposed sanctions on the Russian-controlled International Investment Bank in Budapest.
Key Developments
- Russian Windfall Plunges by $51 Billion as Energy Cash Dries Up
- Xi Hosts Brazil’s Lula in Diplomatic Push for Ukraine Cease-Fire
- Ukraine’s Zelenskiy Asks Global Leaders to Seize Russian Assets
- Hungary Envoy Seals Energy Deals in Moscow Despite EU Stance
(All times CET)
Senators to Get Briefing on Leak (12:50 a.m.)
The Biden administration will give a closed-door briefing next week to US senators on the unauthorized disclosure of highly classified documents regarding the war in Ukraine, a Democratic Senate aide said Wednesday evening.
The briefing will be held on April 19, according to the aide, who was granted anonymity to discuss a confidential proceeding.
The leak of Pentagon documents, perhaps the most serious the US has faced in a decade, exposed details of American spying operations as well as assessments of the war. The US Justice Department has begun a criminal investigation into the disclosure.
Zelenskiy Tells World Bankers His Country Needs Funds Now (9:12 p.m.)
Saying his country has $14.1 billion in immediate reconstruction needs, the Ukrainian president urged a gathering of global finance leaders in Washington to use frozen Russian assets to help pay the cost.
“For people to return and the aggressor to lose not only on the battlefield but truly in everything, we need approval for this support program,” Zelenskiy, speaking via videoconference, told a gathering that included US Treasury Secretary Janet Yellen and chiefs of the International Monetary Fund and the World Bank.
The IMF board signed off on a $15.6 billion, four-year aid package for Kyiv last month, changing the fund’s rules for the first time to allow lending to a country at war. It disbursed $2.7 billion immediately.
Zelenskiy Meets Contingent of US Senators, Plus Brad Paisley (8:46 p.m.)
Ukrainian President Ukrainian Volodymyr Zelenskiy met in Kyiv with three visiting US senators. He told Democrats Joe Manchin and Mark Kelly and Republican Lisa Murkowski about the situation on the war’s front line and discussed Congress’s role in providing further US aid.
They were accompanied by American country music star Brad Paisley, in his customary cowboy hat.
After the meeting, Manchin told reporters, “The purpose of America is to defend freedom and basically fight for the democracies.” He said, “We’ll give Ukrainians all the support they need.”
Ukrainian Premier Asks Austin, Again, for Fighter Jets (7:18 p.m.)
US Defense Secretary Lloyd Austin met at the Pentagon with Ukraine’s Prime Minister Denys Shmyhal, as the Biden administration attempts to repair damage from the major leak of documents, including classified appraisals of US allies and adversaries.
A Pentagon readout of the meeting didn’t mention the leak, which is said to include pessimistic assessments about Ukrainian weapon supplies and air defenses.
But in brief remarks to reporters Shmyhal did pointedly mention Ukraine’s unfulfilled request for fighter jets that the US has repeatedly declined to provide. “America can, once again, demonstrate its leadership by providing Ukraine with F-15 or F-16 aircrafts,” he said.
World Bank Providing $200 Million to Fix Energy Infrastructure (6:34 p.m.)
The World Bank announced $200 million in grant financing to help repair Ukraine’s war-damaged energy infrastructure, saying that an additional $300 million is expected in grants and other contributions for the project.
US Sanctions Russian-Controlled IIB Bank in Hungary (6:18 p.m.)
The US imposed sanctions on the Russian-controlled International Investment Bank, saying its presence in Budapest allowed Moscow to expand its ability to spy, conduct “malign influence activities” and engage in corruption from within the European Union and NATO.
The US Treasury Department also designated for sanctions three current or former executives of the bank.
The bank, which relocated from Moscow to Budapest in 2018, describes itself as a multilateral lender seeking to boost economic ties between its members, mostly former communist states such as those in eastern Europe. But critics said the move to Hungary — the EU member with the closest ties to Moscow — was dangerous to the US and its allies.
US and UK Impose Sanctions on ‘Enablers’ of Abramovich, Usmanov (5:10 p.m.)
In one of the first big moves against so-called enablers, the UK said a pair of Cypriots helped to shield the billionaires’ wealth from asset freezes by moving their funds to family members and offshore trusts. An overlapping but not identical list of sanctions by the US targeted other members of a Cypriot network, including a trust created by Usmanov and his sister.
US Secretary of State Antony Blinken said in a statement that the US was imposing sanctions on more than 120 individuals and entities in 20 countries linked to Russia’s invasion of Ukraine.
Spanish Leopard Tanks Heading for Ukraine, Robles Says (3:45 p.m.)
Six Spanish Leopard 2 A-4 tanks are on the way to Ukraine and another four will also be there soon after being repaired, Spanish Defense Minister Margarita Robles said in a news conference with her Ukrainian counterpart Reznikov.
Also on the way are 20 TOA armored personnel carriers. Reznikov said the country’s main priorities were to bolster its air defense systems, including combat aircraft, and also supplies of artillery and ammunition. Spain’s experience in amphibious operations could also be helpful to Ukraine, he said.
Leaked Documents Appear to Benefit Russia, Reznikov Says (3:30 p.m.)
The content of a leaked trove of classified documents on Ukraine is a mixture of true, false and outdated information, the country’s Defense Minister Reznikov said in a news conference in Madrid. The leak would clearly appear to benefit Russia and its supporters and is aimed at undermining the trust between allies including the US, he said.
Reznikov said he was sure the US would do all it could to limit the impact of the leak and ensure nothing similar happens in the future. Asked whether NATO military personnel were in Ukraine, he said that wasn’t true. He also noted the confidence expressed by US officials on prospects for a counter-offensive against Russian forces.
The US has started a criminal investigation over the leak of the intelligence secrets, which contain information about Ukraine’s armed capabilities as well as on other confidential matters.
Most Urban Belarusians Are Against Russian Nuclear Weapons, Poll Says (3:10 p.m.)
Only a quarter of Belarusian city residents would support placing Russian nuclear weapons in their country while the rest are against it, according to a poll by Chatham House.
There is only marginal support for Belarus potentially taking part in Russia’s war against Ukraine, according to the poll. About half of the country’s urbanites are explicitly against Russia’s actions in Ukraine while a quarter refused to provide a direct answer. The survey showed 56% would support an immediate end to the fighting.
Chatham House polled 804 residents of Belarusian cities March 15-27 through the internet. Belarusian authorities effectively ban any non-government polls in the country.
Crimea, Border Regions Cancel May 9 Parade Over Security Fears (2:15 p.m.)
The occupied Crimea Peninsula on Wednesday canceled the annual May 9 World War II victory parade, citing “security considerations” ahead of an expected Ukrainian counter-offensive. The decision followed moves by two regions bordering Ukraine, Kursk and Belgorod, whose localities have often come under shelling, to scrap the event this year.
The May 9 parades, which include a display of military might on Moscow’s Red Square and commemorate the defeat of Nazi Germany, have huge symbolic significance inside Russia. The Kremlin has used comparisons to World War II to justify its more than year-old invasion of Ukraine.
More stories like this are available on bloomberg.com
©2023 Bloomberg L.P.
