KIEV, July 27 – The pegging of the hryvnia to the dollar and the large share of payments in dollars in Ukraine's foreign trade may have grave consequences for Ukraine if U.S. politicians fail to reach an agreement on raising the country's debt ceiling, as the United States will have to default on its obligations, Deputy Prime Minister and Social Policy Minister Serhiy Tyhypko said.

"If the Republicans and Democrats fail to agree, it will affect Ukraine: Half of the foreign currency reserves of the NBU in the country are in dollars, half of [Ukraine's] foreign trade is in dollars," he told reporters in Kiev on Wednesday.