Latest news with #Svyrydenko
DW
11 hours ago
- Business
- DW
Ukraine Updates: New PM Svyrydenko seeks fresh IMF loan – DW – 07/22/2025
As Moscow and Kyiv prepare for a third round of peace talks this week, Ukraine's new prime minister hopes to shore up the nation's budget with a fresh IMF loan if the war doesn't end this year. Follow DW for more. Ukraine's Prime Minister Yulia Svyrydenko said in an interview that she is likely to discuss a fresh loan program with the IMF next month. Ukraine and Russia set to hold the third round of peace talks Istanbul on new Prime MinisterYulia Svyrydenko said she will likely seek fresh financing from the International Monetray Fund to cushion the country's fiscal needs in its defense of Russia's war, according to a report by Bloomberg. The report outlined that global donors have so far only earmarked half of the estimated $75 billion (€ 64.18 billion) budget that the war-strained country requires over the next two years. With the IMF's roughly $16 billion (€13.69 illion) loan program set to expire in 2027, new discussions will likely be held at a lender's review planned for August, especially since the end to the war is not in sight, she told the media house. Meanwhile Ukraine's Defense Minister took to messaging app Telegram, saying the country will need at least $120 billion (€102.68 billion) for defense spending next year and that negotiations were ongoing with NATO and the EU over $60 billion (€51.34 billion) in funding from partners. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video On Monday, the UK and Germany led a virtual meeting on how to help Ukraine acquire the weapons it needs to defend itself against the Russian aggression. German Defense Minister Boris Pistorius said he will "contribute to providing" five Patriot missile defense systemsto Ukraine, DW's Teri Schultz reported from Brussels. This includes two systems Berlin had previously discussed, with an additional one expected to be financed by Norway. It is not clear whether Germany would pay for remaining two defense systems itself, or if it will seek contributions from other NATO members. Meanwhile, Ukraine's former prime minister and newly appointed Defense Minister Denys Shmyhal, who was also part of the meeting, said Kyiv needs more than $6 billion (€5.13 billion) worth of additional military spending to increase its own weapons production. The UK imposed new sanctions on Russia's so-called "shadow fleet" which will target 135 oil tankers and two Russian companies involved in circumventing oil sanctions on Moscow. Additionally, Ukrainian President Volodymyr Zelenskyy said Ukraine and Russia will hold another round of talks on Wednesday. Two previous rounds held in Istanbul failed to yield any meaningful progress on a ceasefire. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Welcome to DW's coverage of the latest developments in Russia's war in Ukraine. Both Ukraine and Russia continue to exchange drones and missiles, aiming at each other's capital cities. Overnight Monday, Russia unleashed one of its largest aerial assaults on Kyiv, just hours before the UK and Germany chaired a high-level meeting to discuss the US' plans for NATO allies to provide Ukraine with weapons it needs. Stay tuned for the latest news and analysis from the ongoing war.
American Military News
a day ago
- Business
- American Military News
Svyrydenko Takes Helm As PM In Move To Drive Ukraine's War Effort And US Ties
This article was originally published by Radio Free Europe/Radio Liberty and is reprinted with permission. Ukrainian lawmakers have approved Yulia Svyrydenko, the economy minister and first deputy prime minister who led talks with the United States on a critical minerals deal, as prime minister in a cabinet shuffle aimed at boosting relations with Washington and breathing new life into the war-torn country. Parliament, the Verkhovna Rada, easily gave its approval to the move on July 17, with 262 deputies in the 450-seat legislature voting in favor of Svyrydenko, compared to 22 against and 26 abstentions among those present. Svyrydenko, an economist, is well known in Washington after her prominent role in clinching the minerals agreement. The 39-year-old replaces Denys Shmyhal, the longest-serving head of government in Ukraine's history. In subsequent voting, Shmyhal was appointed to head the Defense Ministry as President Volodymyr Zelenskyy looked to boost domestic weapons production with the war sparked by Russia's full-scale invasion, which is now well into its fourth year. Minutes before his nomination was approved, Shmyhal told the Ukrainian parliament that the country's armed forces need a system 'oriented toward the Ukrainian soldier,' providing each with all the necessary means. When nominated earlier this week, Svyrydenko said her top priority was 'ensuring the defense and security forces of Ukraine and guaranteeing the stability of our state.' 'The state apparatus has no right to waste the resources and potential of our country,' she added. As much as Zelenskyy's moves are aimed at reinvigorating Ukraine's war efforts, the shuffle is seen as an attempt by the president to boost the flow of communication and cooperation with the White House. Andriy Sybiha, Ukraine's foreign minister who had participated in a number of talks with US representatives, was reappointed to his position. However, Oksana Markarova, Ukraine's ambassador to the United States, has left her post. Instead, Zelenskyy nominated Olha Stefanishyna, the former head of Ukraine's European and Euro-Atlantic integration efforts. Her nomination came as a surprise, as Zelenskyy had also previously mentioned outgoing Defense Minister Rustem Umerov as a possible successor. Zelenskyy added that Stefanishyna will serve as a special envoy to the US until her candidacy as ambassador is approved in Washington. Markarova, a financier and diplomat, angered members of the Republican Party when she helped organize Zelenskyy's visit to an arms plant in the hometown of then-incumbent President Joe Biden, which was accompanied by Democratic lawmakers. A series of events going back to 2019, including an impeachment trial triggered by a phone call with Zelenskyy in July of that year, had soured Trump on Ukraine and Washington's full support for Kyiv is seen as far from assured. In a post on Telegram right after the July 17 parliamentary session, Zelenskyy announced that adjustments to Ukraine's diplomatic staff would continue the following week. 'We are preparing changes together with the foreign minister,' he added. Minerals Deal Svyrydenko, who was appointed as economic development and trade minister and first deputy prime minister in 2021, played a lead role in negotiations with the United States over a deal granting US companies access to Ukraine's valuable minerals and rare earths. Trump made the deal a cornerstone of his policy toward Ukraine, saying the United States needed to be reimbursed for its aid to the country, which has totaled about $175 billion since Russia launched its full-scale invasion in February 2022. Svyrydenko flew to Washington in April to sign an agreement with US Treasury Secretary Scott Bessent that sets up the US-Ukraine Reconstruction Investment Fund. Under the agreement, the United States has the right to share in the profits from new Ukrainian minerals and energy projects. Trump touted the agreement as ensuring US interests in Ukraine's defense and reconstruction. With Trump voicing frustration over a lack of progress in peace talks Russia, Ukraine is looking to use the opportunity to solidify agreements on weapons and other support from the White House. Trump this week announced he would be selling weapons to NATO for further transfer to Ukraine — his biggest show of support for the country since taking office in January. Meanwhile, Zelenskyy also revealed that he and Trump have discussed a 'mega deal' involving the United States purchasing Ukrainian-made drones for its own use. The Ukrainian president said in an interview with the New York Post on July 17 that his latest talks with Trump had centered on a potential drone deal, with Kyiv offering battlefield expertise and drone technology in exchange for deeper US defense cooperation.
India.com
2 days ago
- Business
- India.com
Meet Ukraine's First Woman PM – Rising From The Rubble, She Now Takes The Helm Of A Wartime Nation
The story so far: Kyiv woke to a warm July morning on 17, its sunlight spilling over the golden dome of the Verkhovna Rada. In front of the Parliament building, Yulia Svyrydenko took her place no longer as a minister or economic strategist, but now Ukraine's new prime minister. A nation under siege by war, which is scarred by loss and tested by time, turns to her leadership with cautious hope. She becomes Ukraine's 19th prime minister at a defining moment. As June ends, so does Denys Shmyhal's five-year tenure. What follows is a transition of power, vision, voice and urgency. Svyrydenko steps in not as a populist, nor a wartime orator, but as a calm and calculated technocrat. She is an economist by training, a builder of frameworks and a problem-solver in the middle of crisis. Her path to this moment has been decades in the making. Born on Christmas Day in 1985 in Chernihiv, Svyrydenko was a standout student at Kyiv's State University of Trade and Economics. With a master's degree in antitrust management, she started in the private sector before transitioning to public service in 2011. Her early years saw her posted to China and later advising regional governments on economic growth. By 2019, President Volodymyr Zelenskyy took notice. He brought her into a socio-economic working group during early peace dialogues, later elevating her to deputy head of the Presidential Office. In November 2021, months before Russia's full-scale invasion, she became deputy prime minister and minister of economy. Then came war. Instead of retreating, she helped Ukraine navigate one of its darkest periods. She played a pivotal role in securing a U.S.-Ukraine Reinvestment Fund in 2022, unlocking funding for rebuilding and tapping into Ukraine's mineral wealth. This year, she carried Ukraine's case to Rome, securing 11 billion euro in recovery pledges from Western partners. President Zelenskyy formally nominated her on July 14. Three days later, 262 members of Parliament voted in favour. She became the first woman to lead Ukraine's government during wartime. Her mandate is steep. Ukraine faces a $19 billion fiscal hole. Artillery shells continue to fall. But she has already laid out her battle plan – deeper fiscal reforms, deregulation, privatisation and a push to manufacture at least half of Ukraine's military equipment domestically within six months. She aims to speed up EU integration and deepen military ties with the United States. In her first message on X, she wrote, 'Our Government sets its course toward a Ukraine that stands firm on its own foundations – military, economic and social. My key goal is real, positive results that every Ukrainian will feel in daily life. War leaves no room for delay.' It is a great honor for me to lead the Government of Ukraine today. Our Government sets its course toward a Ukraine that stands firm on its own foundations — military, economic, and social. My key goal is real, positive results that every Ukrainian will feel in daily life. War… — Yulia Svyrydenko (@Svyrydenko_Y) July 17, 2025 With that, a new chapter begins.
The Hindu
3 days ago
- Business
- The Hindu
Yulia Svyrydenko: Ukraine's new Prime Minister
The story so far: A new Prime Minister is in charge in war-time Ukraine after five years. On July 17, Ukraine's Parliament, the Verkhovna Rada, approved the nomination of Yulia Svyrydenko as the country's 19th Prime Minister.. Ukraine President Volodymyr Zelenskyy had nominated her on July 14, as part of a long-expected wartime cabinet shuffle. Ms. Svyrydenko replaces Denys Shmyhal, who has held the Prime Minister's post since 2020. The 39-year-old economist and technocrat is expected to infuse fresh vigour into Ukraine's economy, and spearhead the development of its military. Before her appointment to the post of Prime Minister, she was the first Deputy Prime Minister, and handled Economic Development and Trade ministry from November 4, 2021. Who is Yulia Svyrydenko? Yulia Anatoliivna Svyrydenko was born in Chernihiv, Ukraine (erstwhile the Ukrainian SSR, Soviet Union) on December 25, 1985. She graduated with a master's degree in Antitrust Field Management from Kyiv National University of Trade and Economics in 2008. For a brief period, she worked as an economist in the private sector, including as part of the Ukrainian-Andorran joint venture JSC AMP. In 2011, she transitioned to the public sector. Her first stint was as a representative for Chernihiv in Wuxi. China. Ms. Svyrydenko took up public administration roles in 2015. She served as an advisor to the Governor of Chernihiv, then as the head of the Department of Economic Development in the Chernihiv Oblast, followed by a brief stint as the head of the Regional State Administration of the Oblast from July 30 to November 28, 2018. President Zelenskyy tapped her to be a part of his administration in 2020. In May 2020, she was appointed to represent Ukraine in the Trilateral Contact Group's social and economic subgroup. The Trilateral Contact Group is comprised of representatives from Russia, Ukraine and the Organization for Security and Co-operation in Europe. Later that year, in December, she was named Deputy Head of the Office of the President, replacing Yuliya Kovaliv. A little less than a year later, Ms. Svyrydenko was appointed as the first Deputy Prime Minister and Minister of Economic Development and Trade on November 4, 2021, receiving the support of 256 lawmakers for her confirmation. Her appointment came a mere four months before Russia invaded Ukraine. She was tasked with reviving the war-time economy and ensuring domestic development during a time of crisis. At this time, she helped negotiate a critical deal with U.S President Donald Trump over Ukraine's mineral resources, at a time when relations between Mr. Trump and Mr. Zelenskyy had soured. The deal, called the United States-Ukraine Reinvestment Fund, was signed on April 30, and gives the U.S preferential access to minerals and other natural resources in Ukraine. It also envisages the creation of a reconstruction fund, into which Ukraine must pay into 50% of all future profits from natural resources. Recently, Ms. Svyrydenko also led the 4th Ukraine Recovery Conference, which took place in Rome on July 10 and 11. Here she concluded agreements with partners for economic and development projects, estimated to have a worth of €11 billion. The road ahead for Svyrydenko Following Mr. Zelenskyy's announcement earlier this week, nomination was confirmed by the Verkhova Rada on July 17, with 262 of 450 members voting in her favour. The new Prime Minister inherits a $19 billion budget gap, and has stressed that she will focus on strengthening the economy. Some measures proposed by her include the audit of public finances, deregulation, acceleration of privatisation, fiscal reforms, reduction of bureaucracy and non-essential expenditure, and greater support for business entrepreneuers. Another key focus under her leadership is bolstering Ukraine's military, as the country remains under onslaught by Russian forces. President Zelenskyy has established the target of domestically producting 50% of the military equipment required by Ukraine within six months, an aim reiterated by the new Prime Minister. She has also said that she will focus on strengthening the armed forces and building stronger ties with allies, including the U.S On a post on X, she wrote, 'Our Government sets its course toward a Ukraine that stands firm on its own foundations — military, economic, and social.... My key goal is real, positive results that every Ukrainian will feel in daily life. War leaves no room for delay. We must act swiftly and decisively.' It is a great honor for me to lead the Government of Ukraine today. Our Government sets its course toward a Ukraine that stands firm on its own foundations — military, economic, and social. My key goal is real, positive results that every Ukrainian will feel in daily life. War… — Yulia Svyrydenko (@Svyrydenko_Y) July 17, 2025 Other changes in the cabinet Several other changes have taken place in what is the largest government reshuffle in Ukraine since Russia invaded three years ago. While the Prime Minister was confirmed in Parliament by a majority, Opposition lawmakers have expressed concerns over a cabinet seemingly stacked with allies of the President. The outgoing prime minister Denys Shmyhal, 49, who also has been the country's longest serving prime minister, will now be defence minister. Deputy ministers Oleksiy Sobolev and Taras Kachka will now be the ministers for economy, environment and agriculture and deputy prime minister for European integration. Svitlana Hrynchuk will take charge as energy minister. Former Justice minister Olga Stefanishyna will be shuffled into the role of Ukraine's new ambassador to the US, replacing Oksana Markarova, who had earned Trump's disapproval for her positive working ties with the Biden administration. Ms. Stefanishyna also worked on the mineral deal negotiation between the U.S and Ukraine, besides previous work with the EU and NATO. Andrii Sybiha, 50, will retain his role as Foreign Minister.
Mint
3 days ago
- Business
- Mint
Zelenskiy Promotes Allies Who've Shown They Can Deal With Trump
Ukrainian President Volodymyr Zelenskiy's cabinet overhaul this week was part of an effort to move into position presidential loyalists who can potentially win favor with Donald Trump. The new prime minister, Yulia Svyrydenko, took office 11 weeks after her team at the Economy Ministry secured a deal with the US over access to Ukraine's natural resources. That agreement, which gave Trump a win in an otherwise fruitless effort to end Russia's war on Ukraine, came together after weeks of grinding negotiations. Svyrydenko, who took the lead on the talks in the weeks after Zelenskiy was upbraided by Trump and his team in the Oval Office, rushed to Washington at the end of April to sign the deal. Zelenskiy had been deliberating replacing long-time premier Denys Shmyhal with Svyrydenko, a 39-year-old former presidential aide, since last year, according to people familiar with his thinking. Her role in the stormy negotiations with the Americans clinched his decision to make the change, the people said, on condition of anonymity. The reshuffle coincides with an about-face in the US administration, with Trump — who had for months belittled Ukraine's wartime leader — turning his ire on Vladimir Putin. The US leader has grown frustrated with the Russian president's refusal to entertain a ceasefire. That turn culminated this week in Trump's threat to impose stiff tariffs on Moscow and pledge to send fresh weapons to Kyiv — though relying on funding from NATO's European allies. With uncertainty over how long the Trump turn may last, the Ukrainian government has moved quickly to align with the more favorable circumstances. Svyrydenko's efforts on the resources deal helped turn around what had been a potentially dire ultimatum for Kyiv. Volodymyr Fesenko, head of the Penta Research Institute in Kyiv, said initial US demands that would effectively make Kyiv permanently indebted to Washington were 'neutralized.' When the then-economy minister jumped on a plane to Washington, a framework agreement was to be followed by a range of technical accords. In mid-air, Svyrydenko's team was informed the Americans wanted to sign all simultaneously as an overall agreement. A deal was reached, covering resources including oil and gas, graphite and aluminum, just as Trump marked his first 100 days in office. One advantage was her good rapport with US Treasury Secretary Scott Bessent, one of the people said. 'Svyrydenko managed to avoid risks in the resources deal and proved herself successful as a negotiator,' Fesenko said in an interview, sealing her path to the premiership. Her promotion aligns with Zelenskiy's long-standing penchant — one that's invited criticism — for empowering loyalists at the expense of others outside the circle of the president and his powerful top aide, Andriy Yermak. Svyrydenko climbed the ranks from state administration in the Chernihiv region to high office in Kyiv. As economy minister, she was first deputy prime minister until this week. Svyrydenko was the only candidate Zelenskiy was considering for the new premier after he observed her work in the government, a person said. She proved her ability to tackle Ukraine's biggest challenges of securing more financing and to boost economic growth during her time at the Economy Ministry, the person said. Alongside the new premier, several others involved in the resources accord were promoted. Former Deputy Economy Minister Taras Kachka was appointed as Svyrydenko's deputy to oversee European Union integration. And while Zelenskiy initially considered his defense chief, Rustem Umerov, as ambassador to the US, he ultimately chose former deputy premier and Justice Minister Olha Stefanishyna. She was part of multiple delegations to the US during talks over resources and is well-known in Washington, a person said. 'The American track is very important, and we have at least three axes of cooperation — the resources fund, the trade deal, and the weapons agreement,' Svyrydenko told reporters in Kyiv on Friday.
