KIEV: Ukraine on Tuesday blamed Germany and other European union countries  of blocking the release of funds approved earlier by the bloc as the country faces a financial crisis caused by its ongoing war with Russia.

Ukraine, which is currently experiencing a financial crisis brought on by its ongoing war with Russia, criticized Germany and other EU members of preventing the delivery of funding that had previously been approved. 

Ihor Zhovka, deputy chief of staff in the presidential office, told local media that "we are expecting 8 billion euro (USD 8.2 billion), but regrettably several EU governments, especially Germany, are stalling verification of this issue." President Volodomyr Zelensky is conducting "active discussions" on the matter, Zhovka said. He said,  Kiev has received 1 billion euros out of the 9 billion euros in financial aid that the EU promised in May.

According to the European Commission, guarantees from member states may be required for the remaining monies since securing them through the EU budget is not feasible due to a lack of resources.

Many international ratings agencies downgraded Ukraine's credit rating in July. And the largest state-owned company, Naftogaz, failed to service outstanding foreign debts a week ago, in line with to a government directive

The presidential administration has calculated that Ukraine will need an additional 50 billion euros in funding by 2023.

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