For True Sovereignty, Ukraine’s Foreign Debt Must Be Canceled
Even before Russia rained terror on its cities, Ukraine was a poor country with limited economic sovereignty. Today, Ukraine’s creditors should free it of its debts, allowing it to rebuild on the basis of self-sufficiency and democratic choice.

A Ukrainian woman surveys the destroyed second floor of her multigenerational home in the suburbs of Kiev. (John Moore / Getty Images)
Russia’s invasion of Ukraine has already forced millions to flee the country and destroyed entire neighborhoods. Strong Ukrainian resistance and the resulting reorientation of Russia’s attack have pulled most of the fighting away from Kiev. Yet even as some refugees return to the capital, the war continues — and the costs of rebuilding grow steeper by the day.
This will also take place in a particular economic context that has developed over recent years. Even before it made its formal application to join the European Union in late February, Ukraine has long made hesitating and partial steps toward EU integration, often taking rules from the bloc without being able to make rules itself.
Yuliya Yurchenko is a researcher in political economy and author of Ukraine and the Empire of Capital: From Marketisation to Armed Conflict. She spoke to Jana Tsoneva about Ukraine’s integration into Europe, the effects of the war on Ukrainian society, and how it can rebuild afterward.