NewsRussian aggression sees Ukrainian President's income dive threefold in a year

Russian aggression sees Ukrainian President's income dive threefold in a year

Russian aggression sees Ukrainian President's income dive threefold in a year
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12:00 PM EST, January 29, 2024, updated: 4:40 AM EST, March 7, 2024

The declaration of Volodymyr Zelensky's assets was made public on the official website of the president of Ukraine on January 28th, EST. The declaration includes information about income and expenditures in 2021 and 2022, facilitating an analysis of the changes in the Ukrainian leader’s financial situation after Russia's full-scale invasion on February 24, 2022, EST.

It must be noted that the publication of the declaration complies with the financial transparency obligations of public or local government positions.

The president's press service released data indicating that in 2021, Volodymyr Zelensky and his family increased their budget by 10.8 million hryvnias (about 1.5 million dollars). The income came from multiple sources. Over 5.3 million hryvnias (over $0.72 million) came from selling Ukrainian treasury bonds. The remaining income, approximately 5.5 million hryvnias (over $0.74 million), was derived from salaries, bank interests, and revenue from property rentals.

Additionally, it is worth mentioning that Zelensky owns several trademarks that were registered long before his presidency.

Threefold decline in the Ukrainian president's income

An income comparison between 2020 and 2021 shows a decline of over 11.9 million hryvnias (over $1.6 million). How did Russia's invasion affect Volodymyr Zelensky's financial situation?

According to the asset declaration, the President of Ukraine's income has shrunk by three times. Zelensky and his family's income in 2022 was slightly over 3.6 million hryvnias (around $0.5 million).

The president's press service explained the significant differences in income due to the temporary suspension of rental agreements in Ukraine due to Russian aggression.

The financial resources balance decreased by almost 1.8 million hryvnias (over $0.24 million), while the value of the president's assets, real estate, and vehicles remained unchanged.

As the Ukrinform agency points out, the mandate to submit e-financial declarations during martial law was established in October last year. This occurred after Zelensky signed a document initially approved by Ukrainian parliamentarians.

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