Ukraine May Abandon the US Dollar

The President of the National Bank of Ukraine, Andriy Pyshnyy, has announced that Ukraine may abandon the US dollar, opting to use the euro as its main currency for settlements instead. The Central Bank is currently exploring this possibility in light of potential global trade restructuring and Ukraine's deepening ties with Europe.

"The prospect of EU membership, the increasing role of the EU in shaping our defense capabilities, as well as the growing volatility in global markets and the possible polarisation of the trade system are prompting the Central Bank to reassess whether the euro could replace the dollar as the primary currency for settlements in hryvnias," Pyshnyy stated.

According to him, this process is complex and requires high-level and multifaceted preparation.