Ukraine Hopes for $35Bln in Western Aid

Ukraine said Monday that it has asked Western powers to provide at least $35 billion in urgent financial aid as it struggles to cope with a severe political and economic crisis.

Interim finance minister Yuriy Kolobov said in a statement that Kiev has urged the United States and countries in the European Union to decide on a financial rescue plan within two weeks.

“The planned volume of macroeconomic assistance for Ukraine could amount to some $35 billion through 2015,” Kolobov said.
He said the current financial situation in Ukraine was difficult but under control.

Olli Rehn, EU Economic Commissioner, said Monday that any proposed bailout deal for the cash-strapped former Soviet state would be measured in billions of euros, the Financial Times reported.