Ukraine President Volodymyr Zelensky in UN talks with Ken Griffin and Bill Ackman about finance for war against Russia

“Veto power in the hands of the aggressor is what has pushed the UN into deadlock,” Mr Zelensky told council members during a tense session, adding it was impossible for the body to stop Russia’s invasion of Ukraine because of Moscow’s ability to veto any effort or initiative at the Security Council.

“Most of the world recognises the truth about this war. It is a criminal and unprovoked aggression by Russia against our nation, aimed at seizing Ukraine’s territory and resources,” said Mr Zelensky, clad in the military-style fatigues that have become his hallmark since Russia’s invasion in February last year.

Mr Zelensky’s appeal came as Ukraine’s allies in the US and Europe have grown increasingly pessimistic about prospects for ending the war soon. Kyiv’s counter-offensive has progressed slowly and officials now see the fighting continuing for years, challenging governments to keep up military and financial support amid growing domestic opposition to the cost.

Russia is digging in for a long conflict, confident it can outlast Kyiv’s allies, according to US and European officials.

Mr Zelensky told global leaders last year that Ukraine’s recovery would involve “colossal investments” and be “the biggest project of our time”.

The country estimates it needs more than $US750 billion ($1.1 trillion) through to 2032 in grants, debt and equity – more than triple the EU’s annual budget. Upwards of $US150 billion is needed for housing and related infrastructure alone.

Michael Bloomberg, majority owner of Bloomberg News parent Bloomberg LP, also attended the meeting, according to one of the people briefed on the gathering.

JPMorgan is Mr Zelensky’s adviser on attracting private capital for the projects. Spokespeople for the New York-based bank and those invited to the meeting declined to comment or had no immediate comment.

Mr Zelensky will be in Washington was expected to head to Washington to press his case for more assistance with President Joe Biden and Republican leaders in Congress, some of whom have questioned calls for continued support.

Bloomberg