Ukraine to Seek USD 35 B Western Loan

Ukraine will request financial assistance from the West, which could amount to USD 35 B.

The country's interim Finance Minister Yuriy Kolobov urged the United States and the European Union to decide on a financial rescue plan within the next 2 weeks, RIA Novosti reports.

"The planned volume of macroeconomic assistance for Ukraine could amount to some USD 35 B through 2015", Kolobov said.

The aid will be crucial for Ukraine, which is in a dire financial state. Since the latest events and the ousting of President Viktor Yanukovych, Russia has threatened to freeze the payment of financial tranches towards Ukraine, amounting to a total of USD 15 B, agreed in December.

On Friday, the rating agency Standard & Poor's warned that it expected Ukraine to default on its foreign-currency obligations if Russia delayed its promised loans.