Practice shows that aid might be illegal. Making a statement, an ousted Viktor Yanukovych said that financial aid the U.S. is promising to Ukraine is illegal. According to the U.S. laws the government has no right to allocate any funds to support illegitimate government. In such a way, if money, in this case it is $1 billion, is given to anyone but Yanukovych, it will be declared illegal. Having clarified this, Yanukovych denounced the upcoming presidential elections scheduled for May 25. In short, Viktor Yanukovych expressed his disapproval of the situation. However, he still stays outside Ukraine and is rather afraid of visiting Crimea. Meanwhile, the U.S. Congress voted for granting Ukraine a $1 billion financial aid. Moreover, the European Union has pledged 11 billion euros in aid to Ukraine, while the World Bank wants to inject 3 billion euros to bolster the country’s economic reforms. But there is more. In late February, the IMF representatives went to Kyiv to assess the situation and give recommendations on the creditworthiness of the country. In case the report is positive, the Ukrainian authorities will be able to get $15 billion. Thus, the nation may cover the budget deficit of $35 billion. At that point, Viktor Yanukovych came out of hiding to address the media. Last year, the Russian Federation secured a bailout to Ukraine. Moscow intended to purchase its neighbor debt offering as a part of financial aid worth $15 billion on the Irish stock exchange. The first tranche of $3 billion was allocated to the teetering country in December. However, after that the program was suspended due to political crisis in Ukraine.
