Kiev brings stability and protects the world from chaos

Ukrainian President Zelensky was very confident in saying this, when analyzing the five main areas of reconstruction at the Conference on Rebuilding Ukraine in London, June 21-22. The conference identified priority, medium-term and long-term tasks for restoring and modernizing the Eastern European country's economy after the military conflict with Russia.

Ukrainian President Volodymyr Zelensky is convinced that the goal of developing agricultural and energy capacities in Ukraine will bring stability to the global economy and society and protect the world from chaos. "The second important aspect of the plan for the reconstruction of Ukraine is the ability to provide stability. By building agricultural and energy capacities in Ukraine, we will protect the world from chaos," President Zelensky emphasized.

Tổng thống Zelensky: Tái thiết Ukraine , để Kiev sẽ bảo vệ thế giới khỏi hỗn loạn

The Russia-Ukraine conflict has left buildings in Bakhmut among thousands destroyed across Ukraine. (Source: Getty Imades)

Mr. Zelensky analyzed that at least 600 million consumers in the world directly depend on Ukraine's agricultural production. Therefore, Ukraine plays a very important role in food security.

Citing the Russia-Ukraine conflict, when Ukrainian ports were blockaded and Kiev's export shipments were hampered, the world realized more clearly the importance of grain exports from Ukraine.

Mr. Zelensky proudly declared that without grain from Ukraine, there is a risk of price crises and social collapse in different countries.

“We have now partially restored the seaborne movement of food through two grain export initiatives. This is what keeps the stability of a large economic and social space.”

The Ukrainian president also highlighted another important aspect of stability: energy. He said that in the past there was no alternative to a green transformation of the economy. But Russia's military campaign has proven that a green transformation is one of the important foundations of energy security.

As President Zelensky said at the Conference on Reconstruction of Ukraine, the current problems with Ukraine's energy base and the energy crisis are both opportunities to end the era of fossil fuels and old energy habits, when entire regions of the world can reduce their dependence on a single energy supplier, such as Russia.

Mr. Zelensky also stressed that it is green energy and the development of new energy capacities in different regions of the world that are the key factors in ensuring real energy stability. And he believes that Ukraine can and will be one of the main suppliers of clean electricity and green hydrogen to Europe.

“The potential of this industry alone is about $400 billion,” the Ukrainian President noted.

The international conference on Ukraine support has agreed to provide $66 billion to help Kiev rebuild the conflict-torn country. At the closing session of the conference in London on June 22, British Foreign Secretary James Cleverly, who chaired the international conference on Ukraine support, announced that the pledged aid is intended to help Ukraine rebuild the country in the short and medium term.

The bulk of the $66 billion comes from a nearly $55 billion aid package announced by the European Union (EU) the night before the summit, with disbursement planned until 2027.

The US also announced $1.3 billion in aid, focusing on Ukraine's energy and infrastructure sectors.

One of the main goals of the international conference in the UK was to engage the private sector, by creating a mechanism to guarantee investment in Ukraine. Nearly 500 companies from 42 countries have pledged to join the reconstruction effort in Ukraine.

Ukrainian Prime Minister Denys Shmygal told delegates at the conference in London that Kiev had "started rebuilding Ukraine this year, instead of waiting for the military conflict to end", and thanked foreign donors for their financial support.

"We are getting closer to the $14.1 billion budget needed," he said, referring to the World Bank's estimate of Kiev's immediate reconstruction budget. In the medium term, Ukraine will need more than $400 billion to restore its economy.

In addition, referring to frozen Russian assets, Prime Minister Shmygal continued to actively call for "We need to perfect the compensation mechanism that would allow the use of frozen Russian assets for the reconstruction of Ukraine".

On June 21, according to a document cited by Bloomberg , members of the EU working group found that “there is no credible legal avenue for the seizure of frozen or immovable assets of Russia due to the military operation in Ukraine.

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