The G7 countries have committed themselves to phase out or ban the import of Russian oil, according to a statement posted on the White House website on Sunday.
“This will hit the main artery of Putin’s economy hard and deprive him of the income he needs to finance the war. The G7 also committed to working together to secure stable global energy supplies while stepping up our efforts to reduce dependence on fossil fuels.
Main trade partners of Ukraine in % from total volume (export from Ukraine to other countries) in 2021
SSC of Ukraine
Foreign trade turnover by the most important positions 2021 (import)
SSC of Ukraine
Interest rates on nbu’s active and passive operations set for May 9
ãSource: National Bank of Ukraine
The Refinancing Rate is a rate at which the NBU provides loans to commercial banks for replenishment of their monetary reserves and lending funds
President of Ukraine Volodymyr Zelensky will take part in a virtual meeting of G7 leaders on Sunday, May 8, where they will discuss Russia’s military invasion of Ukraine.
The date of the meeting was chosen on purpose, and on May 9, US President Joseph Biden will sign the Lend-Lease Act, the US administration said.
“On Sunday morning, President Biden will participate in a virtual meeting of G7 leaders chaired by German Chancellor Scholz. Ukrainian President Zelensky will join the leaders. They will discuss the latest developments in Russia’s war against Ukraine, the global implications of Putin’s war, demonstrate support for Ukraine and the future of Ukraine, and will demonstrate the continued unity of the G7 and our collective response, including ramping up our unprecedented sanctions…,” White House Press Secretary Jen Psaki said at a briefing on Friday.
She indicated that Biden will sign the Lend-Lease Act of 2022 on Monday, May 9.
“Well, I think one should not lose sight of … the meaning of the schedule is … when this G7 meeting will take place, which is the day before Victory Day in Russia, which Putin wanted to mark as the day of victory over Ukraine. Of course, this is not so. Although he expected to march through the streets of Kyiv, this is clearly not going to happen,” Psaki said.
“But, of course, this meeting and conversation on Sunday is an opportunity not only to show how united the West is in confronting the aggression and invasion of President Putin, but also to show that unity requires work; it requires effort; it requires blood, sweat and sometimes tears. And President Biden is determined to keep working to keep the people united – to keep these leaders united as they move forward,” the White House press secretary added.
She also clarified that on May 10, Biden will receive Italian President Mario Draghi, and support for Ukraine will also be discussed at this meeting.
A situation at the customs has somewhat improved, the volume of customs clearance of goods by businesses is increasing, Minister of Finance of Ukraine Serhiy Marchenko has said.
“Compared to March, customs added a little: in March, the drawdown of customs revenues was 80%, now it is about 75%. There are some improvements. Taking into account the current benefits for customs clearance of imports, we can say that the situation has improved somewhat and business is increasing the volume of goods cleared,” the minister said in an interview with Interfax-Ukraine, adding that the data require a deeper analysis.
According to him, customs revenues to the budget amounted to UAH 8.3 billion in April, while tax revenues almost reached UAH 45 billion, and another UAH 22 billion went to the budget as grant assistance.
