Financial and military assistance keeps pouring into Ukraine as a number of countries and political blocs have enforced crippling sanctions on Russia for its unprovoked invasion of its southern neighbor on Feb. 24.
The administration of U.S. President Joe Biden has asked Congress to approve $6.4 billion in additional assistance, $3.5 billion of which would be to provide military equipment to Ukraine and augment the number U.S. troops in nearby countries.
Over the past year, Washington sent Ukraine $1 billion worth of security assistance and $80 million for humanitarian needs.
Washington-based lenders International Monetary Fund (IMF) and World Bank also pledged a $3 billion package. That’s in addition to $2.2 billion that is currently available from the IMF between now and the end of June, the two lenders said in a joint statement. They are making $350 million immediately available.
On Feb. 28, the 27-nation European Union said it is providing 90 million euros in additional humanitarian assistance.
“These steps are another piece of our initial tranche of sanctions in response to Russia’s actions in Ukraine,“
“The war risks displacing millions of Ukrainians, leading to a sharp rise in humanitarian needs. Inside Ukraine, but also in neighboring countries, where Ukrainians seek safety.”
On March 1 Japan pledged more than $17 million, and other countries have made similar pledges.
An untold amount of money is pouring in from private donations as well.
Materiel
Militarily, the EU also agreed to provide Kyiv with 500 million euros worth of weapons in an unprecedented move.
“For the first time ever, the EU will finance the purchase and delivery of weapons and other equipment to a country that is under attack,” European Commission President Ursula von der Leyen said, as cited by Politico. “This is a watershed moment.”
Bilaterally, Spain said it will supply an unspecified amount of “military hardware” as well.
NATO members Slovakia, Poland and Bulgaria are providing 70 military jets – 56 MiG-29 fighters and 14 Su-25 aircraft – Kyiv Post reported on March 1.
The following day, Defense Minister Oleksiy Reznikov said a fresh batch of Turkish-made Bayraktar war drones have arrived. He added that Kyiv had received additional air-defense Stingers and anti-armor Javelin rockets without naming the country of origin.
"The amount of aid we receive is increasing. The number of countries providing this assistance is increasing. Even those who considered it impossible are joining," Reznikov said as cited by Interfax news agency.
Sanctions on Russia
Nearly $1 trillion worth of Russian assets have now been frozen by sanctions, French Finance Minister Bruno Le Maire said on March 1.
Russian President Vladimir Putin’s unprovoked invasion prompted an array of crippling restrictive measures from the U.S., Britain, the EU, Canada, Japan, Australia, Switzerland and other countries.
"We will provoke the collapse of the Russian economy," Le Maire said on local French television.
Washington also joined most EU and other European countries in closing off its airspace to Russian planes. Britain even banned Russian vessels from docking at its ports.
Sanctions targeted some of Russia’s biggest banks who were subsequently cut from the inter-bank SWIFT transfer network.
“Transactions of Russia's central bank, the single most important financial institution in Russia,” were banned, Von der Leyen said.
She continued: “This paralyses billions in foreign reserves, turning off the tap on Russia's and Putin's war. We have to end this financing of his war.”
