Latest news with #YaroslavZheleznyak
TimesLIVE
6 days ago
- Politics
- TimesLIVE
Ukrainian parliament approves new prime minister Yulia Svyrydenko
A photograph of the electronic vote table in the chamber posted by another MP, Yaroslav Zheleznyak, showed 22 votes against her appointment and 26 abstentions. Parliament is also expected to vote through the appointment of outgoing prime minister Denys Shmyhal, who served for more than five years in the role, as defence minister. Zelensky said he wanted his reshuffled cabinet to focus on deregulation, expanding economic co-operation with allies, and stronger punishments for those who threatened Ukraine's statehood and 'stole Ukraine's potential'. Svyrydenko has experience working with top officials in Washington, having negotiated and signed a deal with Treasury secretary Scott Bessent in April that gave the US preferential access to new Ukrainian minerals deals and will help fund investment in Ukraine's reconstruction. In a speech to parliament on Thursday shortly before the vote to confirm Svyrydenko, Zelensky spoke of unspecified future agreements with the US which he said would strengthen Ukraine. The incoming prime minister was congratulated on her appointment by European Commission president Ursula von der Leyen. 'We stand fully behind you as you fight for Ukraine's survival and work for your country's recovery and EU future,' she said. However, some Ukrainian opposition MPs voiced scepticism of the new government. Yaroslav Zheleznyak of the Holos party said the new government would be largely in hock to Zelensky, who has significant wartime powers under Ukraine's constitution. 'They will be told by the president's office what they should really do,' he wrote.
Russia Today
14-07-2025
- Politics
- Russia Today
Ukraine shuts down Unity Ministry after its head reportedly fled
The Ukrainian government has dismantled the Ministry of National Unity, which was led by Deputy Prime Minister Aleksey Chernyshov, Ukrainian MP Yaroslav Zheleznyak has claimed. The move comes after the official was accused of fleeing the country amid a corruption scandal. Chernyshov, who was tasked with overseeing the return of Ukrainian citizens from abroad, has been at the center of an investigation involving the alleged illegal transfer of state land in exchange for luxury housing. Ukrainian media has reported that several of the suspects are his former subordinates, and one of the properties under investigation is linked to his former head of security. Last month, when visiting Austria along with Vladimir Zelensky, several journalists claimed that Chernyshov had failed to return to Ukraine, speculating that he had gone into hiding to avoid the probe. Ukrainian MP Artyom Dmitruk and journalist Anatoly Shariy, both exiled critics of the current Ukrainian government, noted that Chernyshov's supposed escape seemed to coincide with the criminal investigation against him gaining traction. Chernyshov's office has denied any connection between his foreign travel and the criminal probe. Zelensky later referred to the trip as an official assignment, and Chernyshov subsequently announced his return to Ukraine. However, according to Zheleznyak, Chernyshov has now been dismissed and his ministry formally abolished and merged with other departments in an effort to avoid framing the move as a 'liquidation of unity.' This comes amid reports that Kiev's leadership has been increasingly mired in what The Economist has described as 'palace politics' and bitter infighting. The outlet's sources have suggested that the turmoil is linked to Andrey Yermak, the powerful head of Vladimir Zelensky's office, who is seen as actively sidelining other key figures close to the Ukrainian leader. The reported liquidation of the Unity Ministry comes amid a sweeping reshuffle within the government. Prime Minister Denis Shmigal has been replaced by Yulia Sviridenko and will reportedly take over the Defense Ministry, while Rustem Umerov, the outgoing defense chief, has reportedly been tapped to serve as ambassador to the US.
Arabian Post
11-06-2025
- Business
- Arabian Post
Ukraine Eyes Crypto Inclusion in National Reserves
Kyiv's parliament has introduced draft Bill 13356, empowering the National Bank of Ukraine to incorporate virtual assets—primarily Bitcoin—into its official gold and foreign-exchange reserves. The legislation would not compel the central bank to adopt such assets, but merely grant it the legal framework to do so. Lead author Yaroslav Zheleznyak, first deputy chair of the Rada's Finance Committee, highlighted that the bank would retain full discretion over timing, volume, and methodology of any crypto acquisitions. He described the measure as a pivotal move to 'integrate Ukraine into global financial innovations' and bolster macroeconomic resilience while catalysing the digital economy. Ukraine currently holds approximately 46,351 BTC—valued at over $5 billion—though these holdings originate from asset seizures, donations, and fundraising during wartime, and remain under civil-servant control rather than central-bank custody. If passed, the law would permit the bank to transition some of those coins into officially recognised reserves. ADVERTISEMENT The proposal mirrors a broader trend: several nations are charting similar initiatives. The United States launched a Strategic Bitcoin Reserve under an executive order issued on 6 March by former President Trump, consolidating government‑owned cryptos into a national asset. Pakistan, Brazil and the Czech Republic are exploring mechanisms to incorporate digital assets into sovereign financial systems. El Salvador, which adopted Bitcoin as legal tender in 2021, holds over 6,000 BTC, while Bhutan maintains mining‑powered reserves worth around $750 million. Yet the move is not without detractors. Critics emphasise Bitcoin's volatility, liquidity constraints and concentration within corporate entities like MicroStrategy, which undermine its suitability as a stable reserve asset. The Swiss National Bank's governor, Martin Schlegel, reaffirmed this stance on 25 April in Bern, warning that crypto lacks the stability and liquidity required for central‑bank reserve portfolios. ECB President Christine Lagarde has echoed similar concerns, stating that digital assets do not meet the criteria for eurozone reserve holdings. Proponents argue that strategic inclusion could buffer Ukraine against inflation and currency devaluation, offering rapid, secure transferability unmatched by physical assets. Zheleznyak's Telegram statement emphasised that implementation would be fully at the central bank's professional discretion. Operationalising the proposal will require establishing robust legal and procedural frameworks: anti‑money‑laundering protocols, cybersecurity safeguards, digital custody infrastructure, and accounting mechanisms. Banking analysts suggest that careful integration and risk management will be essential to balance innovation with financial stability. Ukraine's draft arrives amid growing global debate on digital money. Central bank digital currencies are being piloted worldwide, such as Turkey's digital lira, China's e‑renminbi, and Nigeria's e‑Naira. Meanwhile, debates continue over whether public‑sector balance sheets should venture into decentralised finance or maintain traditional gold‑forex portfolios. As parliamentarians prepare to debate Bill 13356, attention will turn to amendments that might specify asset types, risk parameters, and accounting standards—or narrow discretionary power for the central bank. The legislation must also align with IMF frameworks and comply with anti‑money‑laundering regulations.
Yahoo
11-06-2025
- Business
- Yahoo
Ukrainian Lawmakers Submit Bill for Creation of Crypto Reserve
Ukrainian lawmakers have taken the first step towards the creation of a crypto reserve. A group of eight deputies of Ukraine's parliament, the Verkhovna Rada, submitted a bill which would authorize the country's National Bank to include "virtual assets in the gold and foreign exchange reserves," on Tuesday. The bill's principal sponsor is Yaroslav Zheleznyak, who serves as first deputy chairman of the Committee on Finance, Tax and Customs Policy. Zheleznyak described the bill as a "step [to] integrate Ukraine into global financial innovations," in a post on Telegram. "Proper management of crypto reserves will help strengthen macroeconomic stability and create new opportunities for the development of the digital economy," he added. Zheleznyak noted however that if it became law, the policy would not demand the central bank create a crypto reserve, merely that it would have the option of doing so. Ukraine already holds 46,351 bitcoin BTC, worth over $5 billion, a figure which only the U.S., China and the U.K. surpass, according to data tracked by BiTBO. However, reports from 2021 say this is all held by civil servants and other officials, as opposed to being held in government coffers. Countries planning on building cryptocurrency reserves are not new, with the U.S. being the most prevalent. Pakistan's government revealed similar plans for a strategic BTC reserve at the end of last month.
Russia Today
22-05-2025
- Business
- Russia Today
Ukraine wants fixed percentage of EU's GDP
Ukraine has proposed that EU member states allocate a fixed portion of their GDP to fund the country's armed forces. The bloc's leaders have pledged continued military support for Kiev despite a policy change by US President Donald Trump, who aims to mediate a truce. Finance Minister Sergey Marchenko outlined the proposal during this week's G7 finance ministers meeting in Canada, according to a Facebook post published on Thursday. 'What we are proposing is partner participation in funding Ukraine's Armed Forces, which would effectively integrate them into Europe's defense structure,' he wrote. Marchenko added that the cost 'would represent only a small share of the EU's GDP' and could be distributed among countries willing to join the initiative. Kiev wants to launch the new scheme in 2026, with contributions counted toward NATO defense spending targets. Marchenko's appeal comes as Ukraine struggles with rising fiscal pressure and an uncertain outlook on foreign assistance. On Tuesday, MP Yaroslav Zheleznyak said the country's 2025 budget includes a shortfall of 400–500 billion hryvnias ($9.6–12 billion) for financing its armed forces. Fellow lawmaker Nina Yuzhanina warned that military support was at a critical level and called for sweeping domestic budget cuts to redirect resources. Ukraine's mounting debt has also raised alarm. Total state debt is approaching $171 billion, with public debt nearing 100% of GDP. Earlier this month, Marchenko said the country would be unable to repay foreign creditors for the next 30 years but intends to continue borrowing. Since the escalation of the conflict with Russia in 2022, Ukraine has received billions in military, financial, and humanitarian aid and loans from the US, the EU, and other donors. Brussels' approach has drawn criticism from some EU member states, including Hungary and Slovakia. The US, Ukraine's largest donor, has moved to recoup its financial aid to Ukraine by signing a natural resources deal with Kiev. The agreement, pushed by Trump, grants the US preferential access to Ukrainian mineral resources without providing security guarantees. Trump, who has repeatedly called for a swift resolution to the conflict, has pledged to mediate a truce rather than expand military support. Ukrainian lawmakers have warned that the military aid package approved under former President Joe Biden will run out by summer, and no talks on further US deliveries are currently underway. Russia has consistently condemned Western arms shipments to Ukraine, declaring that they will only prolong the conflict without changing its outcome, while also being an additional economic burden for ordinary taxpayers.
