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their crops, Ukrainian grain cannot be put on the Polish market. Currently, Poland is considering two options: the first is to extend the restrictions that have been established by the EU and which expire on September 15, and the second is to maintain the current restrictions with national regulations. The resolution will be signed on September 15 or 16. "We support the formula of solidarity corridors, and there are no problems with that. However, we will not allow Ukrainian grain to destabilize the Polish market," the Polish government official summed up.
5.2.2 Current account dynamics
Russia haemorrhaged a record $243 billion in 2022. Transactions made by private individuals accounted for $47 billion of that: a fifth of the total amount. This outflow of capital is essentially the only form of protest against the war that the Russian elite has adopted.
5.2.3 Gross international reserves
Due to reduced international aid, Ukraine's international reserves decreased by 3.2% in August. As of September 1, the aid volume was about $40.4B, dropping by $1.4B in August, the National Bank reported on Wednesday. The reason for the decrease was the NBU's FX sales to cover the difference between supply and demand on the FX market, which were partially offset by revenues from international partners. In August, the NBU sold almost $2.5B on the foreign exchange market, while it bought back only $4.5M. At the same time, $1.66B was received from the government's FX accounts with the NBU, including $1.63B of macro-financial assistance from the EU and $21.9M from the placement of domestic state loan currency bonds. In addition, the
41 UKRAINE Country Report October 2023 www.intellinews.com