Ukraine Finance Minister Oleksandr Dalnylyuk’s speech at the EBRD Board of Governors’ Session

5/17/17

Mr. Chairman, President and colleagues.

I have listened carefully to the arguments that were voiced by the Russian Governor.

I could provide an even longer list of arguments as to why economic and military aggression of the Russian Federation against Ukraine is bad for Ukraine, the Ukrainian economy and also for Russia, for the Russian economy, the state and the private sector.

And yet that would not change the policies that Russia has pursued over the last years.

I would like to stress that today, the discussion is not about legal formalities, as claimed by the Russian side.

There is one fundamental reality: one shareholder is engaged in military aggression against another shareholder.

This is unthinkable, and it is clearly against the Agreement establishing the EBRD.

I considered and reviewed the Russian position very carefully.

I consider the arguments to be manipulative and, very often, speculative.

Therefore, we support the management’s Resolution which reiterates the relevance of the Board guidance that was given in June 2014.

We fully reject all seven items proposed by the Russian side.

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