In the present article the author focuses on Ukraine’s debt since the 1990s and more particularly in the years after the invasion of Ukraine by Russia in 2022. It provides answers to several questions. Who are Ukraine’s creditors? How much are they owed? What do they demand in exchange for their loans? What part does the European Union play? Why does Ukraine’s integration into the EU go against the Ukrainian people’s interests? What is done with frozen Russian assets? Why should Ukraine’s debt be cancelled? Why does Zelensky oppose any cancellation? What are the alternatives to current indebtedness? Some questions are not addressed for want of space such as the stage the conflict has reached, the provision of weapons, the debates within the Left.