The US claims that Russia is preparing to invade Ukraine have taken a toll on the Ukrainian economy. An advisor to Ukrainian President Volodymyr Zelensky’s chief of staff on Friday called on the West to dial back on the rhetoric.
“Constant and extremely emotional messages in the media about how a big war is going to start tomorrow, or the day after tomorrow or the day after that create economic risks,” said Mykhailo Podolyak.
“This speculative stuff puts pressure on investors, creditors, and on ordinary people. And that worsens other economic indicators,” he added.
Since the US began making the warnings in November, Ukraine’s hryvnia currency has crashed and is now at its lowest value against the US dollar since February 2015.
The US narrative that Russia is plotting an invasion is starting to crumble as US and Ukrainian officials are at odds over the threat level. Zelensky criticized Western leaders for creating a “panic” by making the claims. “This is panic — how much does it cost for our state?” he asked.