With economic declines worsening amid Russian infrastructure attacks, donors reportedly may need to give an extra $2bn monthly
US braces allies for higher Ukraine costs – WaPo
© Getty Images / Chris McGrath
Washington is reportedly bracing its European allies for “worst-case scenarios” in Ukraine, suggesting that Kiev may need its donors to pony up an additional $2 billion a month as Russian attacks on key infrastructure cripple the former Soviet republic’s economy.
The cost warning reflects fears that Ukraine’s economy may contract by an additional 5-9% in 2023 after taking a 33% hit this year, the Washington Post reported on Thursday. There are also concerns that if Moscow’s attacks intensify, a surge in refugees fleeing the country could crash Ukraine’s currency, leaving the government in a “doomsday scenario” in which it can’t pay for critical imports or meet its foreign debt obligations.
“What do you do when you can’t heat your house, you can’t run your shops, factories or plants, and your economy is not working?” Oleg Ustenko, an economic adviser to President Vladimir Zelensky, told the Post. “We are going to be requiring more financial assistance, and [Russian President Vladimir] Putin is doing this to destroy unity among allies.”
Germany spending $500 billion to ‘keep the lights on’ – mediaREAD MORE: Germany spending $500 billion to ‘keep the lights on’ – media
Europe is already suffering an energy crisis and economic turmoil amid the Russia-Ukraine conflict. The US-led sanctions campaign to punish and isolate Moscow has sparked soaring inflation and energy shortages. Germany, for instance, has spent nearly $500 billion to “keep the lights on” since the conflict began in February, cutting off its imports of Russian energy, Reuters reported on Thursday.
Zelensky’s government expected to need at least $55 billion in foreign financial aid next year to meet basic expenses, the WaPo reported. An extra $2 billion monthly would push that total to $79 billion. To put that in perspective, Ukraine’s entire state budget was less than $48 billion in 2021.
So far, the US and the European Union have pledged to send more than $30 billion to Ukraine next year, not counting the massive military aid that they’re also providing. Beyond the additional government funding that Kiev will seek, advisers to Zelensky have weighed asking Western leaders to finance direct cash payments to Ukrainian citizens, at a cost of $12 billion, the Post said.
READ MORE: Putin accuses EU of being a doormat for US
Jacob Kirkegaard, a senior fellow at the German Marshall Fund think tank in Washington, argued that the West needs to give more money to keep Zelensky’s government financially afloat. However, he added, “I don’t know if the will is there.”
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The Islamic Revolution Guards Corps (IRGC) warns the enemies that any act of aggression against the Islamic Republic will not go unanswered.
In a statement on Thursday, the IRGC issued a “stern warning” to the enemies after US forces launched strikes against the southern Iranian port city of Bandar Abbas.
Following the US military attack on a point on the outskirts of Bandar Abbas Airport with aerial projectiles, the IRGC carried out new strikes targeting the US air base from which the attack originated in the wee hours of Thursday, it added.
“This response is a serious warning to the enemy that they should know the act of aggression will not go unanswered,” the IRGC emphasized.
The elite military force warned of a “more decisive” response if the enemy repeated any act of aggression.
It also said the responsibility for the consequences of any IRGC response lies with the aggressor.
The statement comes after the IRGC Navy on Thursday forced an American tanker to turn back. The tanker ...
Volker Turk has warned that efforts to advance reparatory justice are facing resistance in “certain quarters,” and urged countries to back Africa’s push.
Reparatory justice for historical crimes, including colonialism, enslavement, and the trade in enslaved Africans, is crucial to dismantling systemic racism, UN High Commissioner for Human Rights Volker Turk has said.
Speaking at the UN Permanent Forum on People of African Descent on Tuesday, Turk linked present-day discrimination against people from the continent to the enduring legacy of colonialism and enslavement.
”Racism and dehumanizing rhetoric continue to permeate public institutions, communities, and online platforms,” he said, according to the UN Press Service. Turk noted that “digital technologies, including AI, are reproducing and amplifying existing biases against people of African descent.”
The remarks come weeks after the UN General Assembly adopted a resolution declaring the transatlantic slave trade “the gravest...
The US VP had to defend President Trump’s Gaza policy at a rally on a Georgia college campus.
US Vice President J.D. Vance was forced to defend Washington’s policy in Gaza after he was booed and heckled at a key MAGA event on Wednesday.
Co-founded by the late Charlie Kirk, Turning Point USA (TPUSA) is a conservative student group that has long been seen as a strong support base of President Donald Trump’s MAGA movement but is now showing apparent cracks.
Less than 15 minutes into a TPUSA event at the University of Georgia on Wednesday, Vance was interrupted by hecklers over US policy in Gaza, with one audience member shouting, “Jesus Christ does not support genocide!” As he attempted to respond, others shouted, “You’re killing children!” and “You’re bombing children!”
Vance replied by referring to Trump’s achievements as president, including securing a fragile ceasefire in Gaza, something he said the previous administration of Joe Biden failed to do.
“I ...
