
Ukraine's Zelenskiy taps deputy PM Svyrydenko for prime minister
The nomination, which requires parliamentary approval, comes as diplomatic efforts to end the war, now in its fourth year, have stalled and as Ukraine seeks to revive its cash-strapped economy and build up a domestic arms industry.
"We ... discussed concrete measures to boost Ukraine's economic potential, expand support programs for Ukrainians, and scale up our domestic weapons production," Zelenskiy wrote on X.
"In pursuit of this goal, we are initiating a transformation of the executive branch in Ukraine," he said, adding that he had proposed that Svyrydenko lead the government and "significantly renew its work".
Svyrydenko, 39, is an economist by training and has served as first deputy prime minister since 2021. She played a key role in recent negotiations for a minerals deal with the United States.
Ukraine relies on financial aid from its Western allies to finance social and humanitarian spending as the bulk of state revenues go to fund the army and domestic weapons production.
Ukrainian officials have also urged Kyiv's partners to help finance the country's arms industry, including through joint defence projects.
Writing on X, Svyrydenko said she would pursue deregulation, cut back bureaucracy, protect business and reduce non-critical expenditure to achieve the "full concentration of state resources" for defence and post-war recovery.
"The state apparatus has no right to waste the resources and potential of our country," she said. "Ukraine deserves to be among the strongest economies in Europe."
Ukraine's current prime minister, Denys Shmyhal, has held the post since March 2020, making him the longest-serving head of government since the country gained its independence from Moscow in 1991 amid the collapse of the Soviet Union.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Sky News
21 minutes ago
- Sky News
Trump is clearly fed up with Putin - but will his shift in tone force Russia to the negotiating table?
As ever, there is confusion and key questions are left unanswered, but Donald Trump's announcement on Ukraine and Russia today remains hugely significant. His shift in tone and policy on Ukraine is stark. And his shift in tone (and perhaps policy) on Russia is huge. Ever since Mr Trump returned to the White House he has flatly refused to side with Ukraine over the Russian invasion. He has blamed Ukraine and Joe Biden for the incursion but has never been willing to accept that Russia is the aggressor and that Kyiv has a legitimate right to defend itself. Today, all that changed. In a clear signal that he is fed up with Vladimir Putin and now fully recognises the need to help Ukraine defend itself, he announced the US will dramatically increase weapons supplies to Kyiv. But, in keeping with his transactional nature and in a reflection of the need to keep his isolationist "America-First" base on side, he has framed this policy shift as a multi-billion dollar "deal" in which America gains financially. American weapons are to be "sold" to NATO partners in Europe who will then either transfer them to Ukraine or use them to bolster their own stockpiles as they transfer their own existing stocks to Kyiv. "We've made a deal today," the president said in the Oval Office. "We are going to be sending them weapons, and they are paying for them. We are manufacturing, they are going to be paying for it. Our meeting last month was very successful... these are wealthy nations." 2:27 This appears to be a clever framing of the "deal". Firstly, America has always benefited financially by supplying weapons to Ukraine because much of the investment has been in American factories, American jobs and American supply chains. While the details are not entirely clear, the difference now appears to be that the weapons would be bought by the Europeans or by NATO as an alliance. The Americans are the biggest contributor to NATO, and so if the alliance is buying the weapons, America too will be paying, in part, for the weapons it is selling. However, if the weapons are being bought by individual NATO members to replenish their own stocks, then it may be the case that the US is not paying. NATO officials referred all questions on this issue to the White House, which has not yet provided clarity to Sky News. It is also not yet clear what type of weapons will be made available and whether it will include offensive, as well defensive, munitions. 1:49 A key element of the package will likely be Patriot missile batteries, 10 to 15 of which are believed to be currently in Europe. Under this deal, it is understood that some of them will be added to the six or so batteries believed to be presently in Ukraine. New ones would then be purchased from US manufacturers to backfill European stocks. A similar arrangement may be used for other weapons. The president also issued the Russian leader with an ultimatum, saying that Putin had 50 days to make a peace deal or else face 100% "secondary tariffs". It's thought this refers to a plan to tariff, or sanction, third countries that supply Russia with weapons and buy Russian oil. This, the Americans hope, will force those countries to apply pressure on Russia. But the 50-day kicking of the can down the road also gives Russia space to prevaricate. So, a few words of caution: first, the Russians are masters of prevarication. Second, Trump tends to let deadlines slip. And third, we all know Trump can flip-flop on his position repeatedly. 2:00 Maybe the most revealing aspect of all this came when a reporter asked Mr Trump: "How far are you willing to go if Putin sends more bombs in the coming days?" "Don't ask me questions like that..." Mr Trump doesn't really know what to do if Mr Putin continues to take him for a ride. Mr Biden, before him, supplied Ukraine with the weapons to continue fighting. If Mr Trump wants to end this, he may need to provide Ukraine with enough weapons to win. But that would prolong, or even escalate, a war he wants to end now.


Daily Mail
22 minutes ago
- Daily Mail
Saga to help the over-50s save in tie-up with banking giant NatWest
Saga has agreed a seven-year tie-up with NatWest to launch a range of savings products for the over-50s. Saga, which offers cruises through to insurance services for people over 50, said an instant access savings product would be the first to launch under the partnership with the banking giant later this year. More 'savings offerings' and other financial products will also be introduced, a spokesperson said. The savings product will replace Saga's instant access offering currently provided by Goldman Sachs for new customers. Saga said there will be no change for customers who already hold a Saga instant access account, and the Goldman Sachs contract will not end until September 2028. Saga Money boss Jerry Toher said: 'This launch is an exciting next step in enhancing our money offer.' Saga struck a 20-year partnership for motor and home insurance with Belgian firm Ageas late last year, while also agreeing to sell its underwriting business Acromas to the group.


Daily Mail
28 minutes ago
- Daily Mail
FTSE eyes 9,000 as UK named trade war winner - but European shares sink after Trump threatens 30% tariffs hit
The FTSE 100 rose to within a whisker of 9000 for the first time yesterday as Brexit Britain was branded a 'clear winner' in Donald Trump's trade war. In a boost for investors with money tied up in shares through their pensions and other savings, the blue-chip index climbed to a record high of 8999.22 before closing up 0.6 per cent at 8998.06. That topped last week's previous record close of 8975.66 and leaves the blue-chip index just shy of the 9000 mark. The gains in London came as shares in Europe fell with the Dax down 0.4 per cent in Frankfurt and the Cac off 0.3 per cent in Paris after the US president threatened to slap 30 per cent tariffs on goods imported from the EU. This compares with a 10 per cent tariff on most imports to the US from the UK – with British cars and aerospace goods getting no extra levies at all thanks to a trade deal with Trump. Analysts said UK stocks should outperform those in Europe thanks to the deal which has been hailed a 'Brexit dividend'. Meanwhile, European leaders warned trade between the EU and US will be 'almost impossible' if 30 per cent tariffs are imposed on August 1 as planned. German and French bond yields rose as investors fretted over the prospect of a transatlantic trade war between the US and EU. 'Trump's tariffs on the EU have one clear winner: the UK,' wrote Panmure Liberum research analyst Joachim Klement in a report. And in a message to investors, he added: 'As the world stands today, there is one clear recommendation: Buy UK.' The report noted 'a significant arbitrage opportunity' for European firms to 'ship goods from the EU to the UK, slightly alter them in the UK to turn them into 'Made in the UK' goods and then ship them to the US'. It said this 'could boost the UK economy' as firms invest in factories and warehouses. Klement said: 'It could turn the UK into a long-term winner from the trade war.' Accountancy and business advisory group Lubbock Fine also said Britain's 'substantial tariff advantage' could see European manufacturers relocating to the UK to avoid the 30 per cent levy. 'The UK could be a big indirect winner,' said Lubbock Fine partner Alex Altmann, who is also vice president of the British Chamber of Commerce in Germany. He added: 'If the tariff rate for the EU finally ends up anywhere near this 30 per cent level then the UK's much lower US tariffs would offer a major incentive for EU companies to shift some of their manufacturing to the UK or to expand their existing UK facilities.' European trade ministers held crisis talks yesterday as they scramble to secure an agreement with Trump to avoid the punishing levies. EU trade commissioner Maros Sefcovic said: 'If you're talking about 30 per cent or 30 per cent-plus, there will be a huge impact on trade. It will be almost impossible to continue trading as we are used to in a transatlantic relationship.' The bloc is preparing a fresh round of retaliatory tariffs on US goods worth more than £60billion if a trade deal cannot be salvaged.