Ukraine President Volodymyr Zelensky estimates that his country needs $7 billion a month to make up for economic losses caused by Russia's invasion.
During a virtual address to a World Bank forum on Thursday, Zelensky once again asked for help from around the world.
"As of now, given the economic downturn and broken economic ties, we need up to $7 billion in financial support each month. Ukraine will need hundreds of billions of dollars to recover from this war," Zelensky said, according to a translation of remarks provided by his office. "The Russian invasion completely destroyed normal economic relations. The first loss analysis alone yielded approximately $550 billion in losses."
Zelensky called on all countries to break all relations with Moscow and immediately exclude Russia from all international financial institutions.
"The [International Monetary Fund], the World Bank and others are definitely not the place for a state that is trying to ruin the lives of its neighbors," he said. "Russian troops are deliberately destroying all facilities in our country that could provide an economic basis for life. Railway stations, food warehouses, bakery plants, oil terminals."
Zelensky suggested that a war tax could be imposed on Russia, and any other country that wages such action in the future, to pay for "violating global stability."
"Such a tax for the war should be imposed on all, without exception, trade transactions with Russia as a state or with Russian companies," he said. "Funds from the war tax should be used to help Ukraine rebuild everything that Russia destroyed in the war. Or, if this tax is applied to another aggressor, the funds should be directed to the victim of that war."
In response to Zelensky's pleas, Treasury Secretary Janet Yellen announced $500 million in aid to help Ukraine continue providing services, the Agence France-Presse reported.
"The needs of Ukraine are urgent, and we plan to deploy this direct aid to Ukraine as soon as possible to be used on most urgent needs," she said.
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