President of Ukraine Volodymyr Zelenskyy said that in the first year of the full-scale war, Ukrainians took $35 billion abroad, which led to a significant collapse of the economy. He said this in an interview with British journalist Piers Morgan.
Capital withdrawal and economic shock
According to the Head of State, Ukrainian citizens officially withdrew these funds, mostly by transferring their accounts to banks in Europe, the US and other countries. This was one of the key factors that caused the crisis in the domestic economy.
“35 billion dollars! And no one could stop them. It was their money, their rights, they were free. But they withdrew not only that, but also transferred their accounts abroad – to Europe, the United States, and other countries. Yes, our economy collapsed. And one of the reasons was precisely this – the withdrawal of large capital from Ukraine,” Zelenskyy stressed.
The role of international assistance
The President emphasised that against this background, the assistance of international partners had become vital for stabilising the situation. However, often the financial packages announced by Western countries did not fully reach the Ukrainian budget. Much of this money was used to produce weapons for Ukraine or to support Ukrainian refugees abroad.
“Part of the money that the US is talking about financed production in the United States. Yes, the companies that produced the weapons, of course, said that all these weapons are for Ukraine, and we are certainly grateful for that. But we have already had these weapons counted once, when they handed over a package worth 46 billion. They increased production in the US. Yes, it helped us, we are grateful, but all this money remained in the United States – in specific companies, at specific factories, in the profits of specific people and in the salaries of exclusively US citizens,” the President said.
Zelenskyy reiterated the need for more effective control over international financial assistance and support for the domestic economy. In his view, to stabilise the situation, it is necessary to ensure the return of capital to the country, create conditions for domestic investment and continue cooperation with international partners.
