Pishnyy said when Ukraine will gain access to frozen Russian assets for the reconstruction of Ukraine.

Ukraine may receive funding from frozen Russian assets

Head of the National Bank of Ukraine Andriy Pishnyy stated that Ukraine may receive funding as early as next year from frozen Russian assets. This will be compensation for the losses incurred by Ukraine.

According to estimates by RDNA-4, Ukraine's losses will amount to 176 billion USD by the beginning of 2025, and the cost of reconstruction will be 524 billion USD.

The main issues discussed during the meeting with representatives of the United Kingdom concerned price stability, the resilience of the banking system, and sources of covering Ukraine's budget deficit. Andriy Pishnyy noted that the country successfully avoided emission financing of the budget deficit thanks to work on the domestic debt market and support from international partners.

The head of the NBU is confident that Ukraine's banking system is in good shape and does not expect negative surprises. He also noted that Ukraine has already updated its legislative framework regarding the privatization of state banks and is working on selecting advisors for this process.

It is important to note that the G7 Extraordinary Revenue Acceleration initiative provides for directing 50 billion USD to Ukraine, of which 20 billion USD will be provided by the European Union.

In December 2024, Ukraine signed an agreement with the EU to create a Credit Cooperation Mechanism, which allows using revenues from frozen Russian assets to repay loans of up to 45 billion euros.

It should also be noted that Orban may help Putin return the frozen assets.