Skip to content
Options Trading Report

Options Trading Report

Primary Menu
  • Home
  • Business
  • Domestic
  • Economy
  • Money
  • Top News
  • Newsletters
  • Home
  • 2024
  • June
  • Ukraine seeks help to shield and rebuild shattered cities

Ukraine seeks help to shield and rebuild shattered cities

Editor June 11, 2024 4 minutes read

By Andreas Rinke and Olena Harmash

BERLIN (Reuters) -Ukraine and its allies drummed up support to protect Ukrainian cities from Russian missiles at a conference in Berlin on Tuesday and urged international businesses to put their faith, and billions of dollars, into post-war reconstruction.

Kyiv hopes the recovery conference will cement its credentials as a future member of the European Union worthy of huge injections of reconstruction financing – even as Russian forces continue to make slow advances in Ukraine’s east.

Switzerland hosts a summit this weekend to seek a path to peace in Ukraine, but it has been shunned by China and dismissed as a waste of time by Russia, which was not invited.

Speaking alongside German Chancellor Olaf Scholz, Ukrainian President Volodymyr Zelenskiy said Russia had already destroyed enough energy infrastructure to power the cities of Berlin and Munich combined.

He was hoping to secure pledges of billions of euros for defence and agreements on building a new and more modern energy system.

“Ukraine is suffering from the most destructive form of the Russian view of energy as a weapon,” Zelenskiy said.

Citing World Bank estimates that Ukraine could need $500 billion over a decade, Scholz said companies had to be offered a business case for investing, and talked up Ukraine’s potential in sectors including renewables, IT and pharmaceuticals.

He also said Germany was sending more air defence systems to bolster Ukraine’s defences against a barrage of Russian attacks on cities and critical infrastructure, more than two years after Russia launched a full-scale invasion.

“The best kind of reconstruction is the one that doesn’t have to happen at all,” he said.

Defence Minister Boris Pistorius announced Germany would deliver another 100 Patriot air defence missiles in an initiative with Denmark, the Netherlands and Norway.

A Russian campaign of aerial bombardment that began in March has inflicted such heavy damage to generating capacity that blackouts are having to be scheduled across Ukraine.

A flurry of diplomacy will have both Zelenskiy and Scholz attending a summit of the Group of Seven major Western powers in Italy this week.

Asked what he expected of the conference in Switzerland, which aims to build support for Kyiv’s peace proposals, Zelenskiy said the fact it was even happening was a result, as it was becoming harder to keep countries onside as war drags on.

“It is important not to hand over (the initiative) … to Russia,” he said. “Because the Russian initiative had been demonstrated on the day of the full-scale invasion. Their vision is the occupation of our country.”

GERMAN AFD BOYCOTTS ZELENSKIY SPEECH

In a Reuters interview at the conference, the mayor of Ukraine’s second city, Kharkiv, said Western weapons and the permission to use against targets just inside Russia had helped to restore calm.

Zelenskiy also addressed the German parliament, where his speech was boycotted by two parties including the far-right Alternative for Germany (AfD), whose support surged in European elections last weekend.

Speaking alongside Scholz and Zelenskiy, European Commission President Ursula von der Leyen announced agreements worth 1.4 billion euros ($1.5 billion) with banks to help attract private investment for Ukraine.

She also said the EU would itself deliver 1.9 billion euros to Ukraine by the end of the month, and that Kyiv would benefit from interest income from frozen Russian assets.

“(Russian President Vladimir) Putin must fail, and Ukraine must prevail,” she said.

“And we must help Ukraine to rise from the ashes and to be the master of its own future. This means, first and foremost, that we must provide Ukraine with the means to defend itself.”

The Berlin conference was tainted this week by the resignation of a top Ukrainian reconstruction official who said “systemic obstacles” were making his job untenable.

U.S. special envoy Penny Pritzker said commitments to rebuilding Ukraine were “predicated upon having good stewardship by those who are managing the reconstruction efforts across the Ukrainian government”.

“It’s urgent to tackle the corruption, the customs evasion, the grey markets,” she said.

($1 = 0.9304 euros)

(Reporting by Andreas Rinke, Rachel More, Andrey Sychev, Olena Harmash, Anastasiia Malenko, John O’Donnell, Alvise Armellini, Max Hunder, Dan Peleschuk; additional reporting by Tom Sims; writing by Matthias Williams; Editing by Kirsten Donovan and Kevin Liffey)

About the Author

Editor

Administrator

Visit Website View All Posts

Post navigation

Previous: China state-owned banks sold dollars as yuan fell to near seven-month low, sources say
Next: Paramount special committee meets to vote on Skydance deal, Bloomberg News reports

Live Market Pulse

The charting technology is provided by TradingView. Learn how to use theTradingView Stock Screener.

Want More Market News?
Add your email address below to get up to date market news and more!
By submitting your email address, you'll receive a free subscription to Options Trading Report newsletter (Privacy Policy). These newsletters are completely free - and always will be. You will also receive occasional offers about products and services available to you from our affiliates. You can unsubscribe at any time.

Search

Recent Posts

  • The Barbell Consumer
  • An Historic Economy – by Justin Vaughn, Editor, Options Trading Report
  • Meta strikes deal with Amazon’s cloud unit to use its CPU chips 
  • Microsoft Reports April 29. The Market’s Problem Isn’t Earnings.
  • Nasdaq to launch new products ahead of extended trading hours plan

Categories

  • Business
  • Domestic
  • Economy
  • Market News
  • Newsletters
  • Options
  • Reflections
  • Top News

You may have missed

photo-1611974789855-9c2a0a7236a3?auto=format&fit=crop&w=1200&q=80
  • Newsletters

The Barbell Consumer

Editor April 24, 2026
ChatGPT Image Apr 24, 2026, 11_57_50 AM
  • Market News

An Historic Economy – by Justin Vaughn, Editor, Options Trading Report

Editor April 24, 2026
2026-04-24T120151Z_1_LYNXMPEM3N0P9_RTROPTP_4_META-PLATFORMS-RAY-BAN-AI
  • Business

Meta strikes deal with Amazon’s cloud unit to use its CPU chips 

Editor April 24, 2026
  • Newsletters

Microsoft Reports April 29. The Market’s Problem Isn’t Earnings.

Editor April 23, 2026
  • Home
  • Terms of Service
  • Privacy Policy
  • Disclaimer
  • Contact Us
Copyright 2026 © All rights reserved | Options Trading Report | optionstradingreport.com SITE_OK