The Ukrainian economy has the potential to surpass the Russian economy, offering Ukraine a safeguard against further Russian hostility.

US Treasury Secretary Scott Bessent stated during a congressional hearing that in two decades, Ukraine’s economy could exceed that of Russia’s. He believes that a stable Ukrainian economy will provide the best long-term defense for Ukraine, a view also shared by US President Donald Trump.

Bessent highlighted the close connection between national security and economic stability. He pointed out that the Trump administration is making efforts to launch the US-Ukrainian Reconstruction Investment Fund as quickly as possible in order to bolster Ukraine’s economy.

He also emphasized that no nation that supported Russia during the war against Ukraine will be allowed to take part in the reconstruction effort. “You can’t destroy a country, destroy people, destroy lives, and then get paid to rebuild it,” Bessent remarked.

It is also worth mentioning that, according to the latest World Bank estimates, Ukraine is ranked 57th among the largest economies in the world. In 2023, Ukraine’s GDP increased by 5.3% to reach $178.8B, whereas Russia holds the 11th position with an economy that is 11 times larger, totaling $2.021T.