Washington’s involvement may also help mitigate political opposition in Europe, while giving the U.S. strategic visibility over future Russian energy flows, sources told Reuters.
The agreement, signed on April 30, establishes a joint investment fund between Kyiv and Washington and grants the U.S. special access to projects developing Ukraine's natural resources.
Ukraine is considering moving away from the U.S. dollar and closer to the euro as a benchmark for the hryvnia, National Bank Governor Andrii Pyshnyi told Reuters.
Rescuers inspect damaged of Safe Confinement of Chornobyl Nuclear Power Plant after Russian drone attack on Feb. 14, 2025 in Prypiat, Ukraine. (Yan Dobronosov/Global Images Ukraine via Getty Images)
The reconstruction of the confinement that covers the fourth reactor of the Chornobyl Nuclear Power Plant will require more financial investments than are currently available in the special fund of the European Bank for Reconstruction and Development (EBRD), the Guardian reported on May 7, citing its sources.
Russian forces struck the Chornobyl Nuclear Power Plant with a drone on Feb. 14, breaking through the confinement and creating a 15-meter hole in it. The attack also led to a fire, which took nearly three weeks to extinguish.
"Not fixing it is not an option," Eric Schmieman, an American engineer who worked on the design and structure of the Chornobyl shelter for 15 years, told the Guardian.
A complete repair would "cost a minimum of tens of millions of dollars and it could easily go to hundreds of millions,"with the repairs taking "months to years," according to Schmieman.
Other sources familiar with the assessment echoed Schmieman's stance, adding that while the European Bank for Reconstruction and Development (EBRD) has 25 million euros ($28 million) in funds for emergency work at the Chornobyl Nuclear Power Plant, "significantly more funding is required" to address the problems caused by the attack.
According to the Guardian, the confinement will be restored by the governments of Western countries, including the U.K.
The nearly $2.3 billion New Safe Confinement (NSC), consisting of two double arches, was completed in 2017. The structure covered the Soviet-era sarcophagus installed over the fourth reactor of the Chornobyl Nuclear Power Plant, where the accident occurred in 1986.
Kateryna Hodunova is a News Editor at the Kyiv Independent. She previously worked as a sports journalist in several Ukrainian outlets and was the deputy chief editor at Suspilne Sport. Kateryna covered the 2022 Olympics in Beijing and was included in the Special Mentions list at the AIPS Sport Media Awards. She holds a bachelor's degree in political journalism from Taras Shevchenko University and a master's degree in political science from the National University of Kyiv-Mohyla Academy.
Kateryna Hodunova
