Without Donbass Coal the Hryvnia-Dollar Exchange Rate Will Slide From 27 to 50

Translated by Ollie Richardson & Angelina Siard



Having decided to legalize the blockade of Donbass, the Ukrainian power thereby forced the issue of the full deindustrialization of Ukraine.

Such an opinion was stated to the correspondent of Politnavigator by the Director of the “Third Sector” information and analysis center Andrey Zolotarev at a press conference in Kiev.

“Without Donbass anthracite, without raw materials for the metallurgical industry, if to call it quits in everyday life, we receive a very sad scenario. It is possible to love Akhmetov or not, but 20% of currency revenues today come from the enterprises of mining and metallurgy. Today the negative sum of the trade balance of Ukraine is more than 4 billion dollars. After the blockade, I think this difference will increase, if not by two-fold — maybe even three-fold. What will happen in these conditions with the hryvnia exchange rate is anyone’s guess. At a rate of 45-50 for the dollar, it is clear in which direction the prices will go,” stressed the political scientist.

“But at the same time nobody will raise neither salaries, nor grants,” added Zolotarev. “That’s why it is easy to guess who will pay for the games of patriots, the NSDC, of Bankova Street, in the redoubts in Krivoy Torets and Bakhmuta around the blockade. It is the citizens of Ukraine who will pay for all of this, and the consequences can be very long-term and sad. The question of the full deindustrialization of Ukraine, in the light of events that we now observe, will be simply forced”.

As Politnavigator reported, by blocking Donbass, Ukraine voluntarily refuses 10% of GDP.

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