Saudi prince in Kyiv

Ukraine Signs $400m Worth MoU for Aid with Saudi Arabia

Following up on the pledge Crown Prince Mohammed bin Salman made in October 2022 during his phone call with Ukrainian President Volodymyr Zelensky, Saudi Arabia has agreed with Kyiv over the weekend on providing an additional humanitarian aid package to Ukraine.

Ukraine’s president received in Kyiv on Sunday Saudi Foreign Minister Prince Faisal bin Farhan, who said the Kingdom was working with Kyiv to mitigate the economic effects of the conflict in Ukraine, adding that he was also discussing opportunities for continued investment cooperation with the country.

At a signing ceremony at the presidential residence in Kyiv attended by Andriy Yermak, head of the office of the president of Ukraine, and Prince Faisal bin Farhan, Ukraine signed with Saudi Arabia a $100 million- worth agreement for a joint cooperation program to provide humanitarian assistance to Ukraine.

The agreement was signed by SFD CEO Sultan bin Abdulrahman Al-Marshad, and Ukraine’s Energy Minister German Galushchenko, and co-signed by Ukraine’s deputy prime minister Oleksandr Kubrakov and Abdullah Al-Rabeeah, adviser to the Royal Court and supervisor general of King Salman Humanitarian Aid and Relief Center.

Yermak and Prince Faisal also signed a memorandum of understanding (MoU) worth $400 million of aid to the European country, which includes the financing of $300 million-worth oil derivatives as a grant submitted by the Saudi government through the Saudi Fund for Development.

Per the Saudi Press Agency, the signing of the agreement and the MoU reflected Saudi Arabia’s commitment to supporting Ukraine and its people in the face of social and economic challenges the country is going through and contributing to alleviating the resulting effects.

The Kingdom, according to Prince Faisal, will continue its efforts to contribute to alleviating the human impact of the conflict, and continue to discuss opportunities to settle the crisis with all parties.

In a phone call to Zelensky on Friday, Saudi Crown Prince also expressed the Kingdom’s support of measures that contributed to de-escalation and readiness to continue efforts at mediation.