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Ukraine is contemplating shifting away from the U.S. dollar and aligning more closely with the euro as a reference currency for the hryvnia, Reuters reported, citing National Bank Governor Andrii Pyshnyi on May 7. This move comes amid threats of broad tariffs by U.S. President Donald Trump, which have unsettled global markets and sparked criticism internationally.
Pyshnyi highlighted that the EU’s increasing role in supporting Ukraine’s defense capabilities, growing global market volatility, and potential trade fragmentation are key factors influencing the consideration of the euro over the dollar. “This work is complex and requires high-quality, versatile preparation,” Pyshnyi told Reuters.
Some European countries outside the eurozone, such as Denmark, use the European exchange rate mechanism to peg their currencies to the euro, aligning with the EU’s Economic and Monetary Union framework.
Ukraine’s pivot toward the euro also aligns with its ongoing EU accession talks. Prime Minister Denys Shmyhal announced on April 9 that Ukraine had fulfilled 81% of its obligations under the Association Agreement with the EU. “We are proving once again that we can efficiently and quickly move toward EU membership. This year, we plan to open all six clusters in the accession negotiations and deepen sectoral integration,” Shmyhal stated.
On April 1, EU officials launched the Ukraine2EU program, allocating 16.7 million euros ( million) to support Ukraine’s EU membership aspirations.
A three-day “truce” declared by Russian President Vladimir Putin has officially begun, coinciding with the 80th anniversary of Victory Day in Russia
During the one-month transition period after Bulgaria adopts the euro, ATMs across the country will distribute only euro banknotes
Keith Kellogg, Special Envoy for Ukraine and Russia under U.S. President Donald Trump, recently suggested that Ukraine and Russia could agree to a demilitarized zone to help de-escalate the ongoing conflict
Two people were killed and eight others injured, including four children, in a Russian drone and missile attack on Kyiv on the morning of May 7
Bulgaria is approaching the final stages of preparation for transitioning card payments from the national currency, the lev, to the euro
According to The Times, European countries are struggling to mobilize even 25,000 troops to Ukraine for a potential peacekeeping mission
A three-day “truce” declared by Russian President Vladimir Putin has officially begun, coinciding with the 80th anniversary of Victory Day in Russia
The evening of May 6 saw widespread flight disruptions at Moscow’s airports following Ukrainian drone strikes
Keith Kellogg, Special Envoy for Ukraine and Russia under U.S. President Donald Trump, recently suggested that Ukraine and Russia could agree to a demilitarized zone to help de-escalate the ongoing conflict
Two people were killed and eight others injured, including four children, in a Russian drone and missile attack on Kyiv on the morning of May 7
The European Commission has strongly condemned the circumstances surrounding the death of Ukrainian journalist Viktoriia Roshchyna
According to The Times, European countries are struggling to mobilize even 25,000 troops to Ukraine for a potential peacekeeping mission
Google Street View Cars Return to Bulgaria for Major Mapping Update
Housing Prices Soar in Bulgaria’s Major Cities as Demand and Supply Strain Increase
