Natalia Zinets, Matthias Williams

KYIV, Reuters – Ukraine’s president seeks weapons and loans in a difficult time with Moscow. He doesn’t want more panic-inducing warnings from Russia that he is on the verge of attacking.

For weeks, Western leaders such as the U.S. President Joe Biden or British Prime Minister Boris Johnson spoke out about what they consider a credible threat to a Russian invasion of Ukraine. This is after Russia has gathered troops near.

Moscow claims it does not intend to do so and that it can drill and deploy its troops wherever it pleases.

These warnings have had an economic impact. The hryvnia currency of Ukraine fell to its lowest point against the dollar since February 2015. Bonds also dropped into trouble territory in January.

Mykhailo podolyak adviser to President’s Chief of Staff stated that “constant, extremely emotional messages in media about how big war is going start tomorrow, the day after tomorrow, or both create economic risk,”

This speculative material puts pressure on creditors, investors and ordinary citizens. This also affects economic indicators.

One source close to the conversation claims that Volodymyr Zelenskiy, Ukraine’s President, in his most recent call with Biden this Thursday focused instead on Ukraine’s economy and downplayed any Russian threat.

Zelenskiy expressed frustration with Biden’s war talk on Friday.

Zelenskiy stated sharply, “I fully understand what’s happening in our state as he (Biden), deeply understands the United States.”

“Do our streets have tanks?” No. However, if you aren’t here, you can get the impression from the media that there is a war going on. This panic is unnecessary.

Biden said that it was vital that he got the information about the situation directly and not from intermediaries.

Washington announced earlier this month that American diplomats’ families were being evacuated. Ukrainian officials denounced the announcement as premature.

According to one source in government, this criticism was also intended to calm the market.

On Friday, Defence Minister Oleksii Raznikov stated to parliament that “the extra billions we spend on the army will not help if it loses balance and economic stability.”

Zelenskiy’s senior advisor told Reuters that Ukraine was being squeezed out of its market borrowing by what he described as “borderline” hypertrophy. This prompted Kyiv, a Kyiv-based institution to request a $5 billion assistance package from friendlier countries.

Washington is sympathetic about Ukraine’s leader needing to adjust its message.

He wants to help, but he also needs to assure the people that he is in control of the situation. “That’s a difficult balance,” said an official from the White House.

Ukraine still holds onto the memories of eight-years ago’s economic hardships caused by Russia’s seizure Crimea and support for separatist movements in Eastern Ukraine.

According to analysts, Ukraine’s economy appears more resilient than it was before the crisis. However, a senior official stated that president, central bank, and government ministers were in meetings to discuss the current market conditions.