G7 countries to provide $19.8 billion in aid to crisis-ridden Ukraine

Finance chiefs from major Group of Seven economies have pledged $19.8 billion in budget support to Ukraine this year as the country struggles to keep functioning amid the destruction wrought by the invasion Russian.

“While also responding to Ukraine’s humanitarian and other material needs, we recognize, in particular, Ukraine’s urgent short-term financing needs,” the G-7 finance ministers said Friday in a statement. communicated after two days of meetings near Bonn.

The amount includes $9.5 billion in pledges made ahead of this week’s meeting, “to help Ukraine close its funding gap and continue to deliver basic services to the people Ukrainian”.


The announcement follows the US Senate approving more than $40 billion in aid to Ukraine, sending the bill to President Joe Biden for his signature. From there, the United States contributes $7.5 billion to the G-7 plan.

The statement also welcomed “ongoing work within the G-7 and international financial institutions on substantial new funding to Ukraine.” This may include another 9.5

billion euros ($10 billion) of “additional macro-financial assistance”.

Donbass ‘destroyed’ as Russia steps up attacks in region

Russian forces shelled areas of Donbass on Friday, destroying homes and killing a number of civilians, Ukrainian officials said. President Volodymyr Zelenskiy said the assaults had turned Donbass into “hell”.

Russia to stop gas flows to Finland from today

Russian Gazprom has informed Finland that it will stop natural gas flows from Saturday morning, Finnish gas wholesaler Gasum announced on Friday. Gasum refused to pay Gazprom Export in rubles as Russia asked European countries to do.

Russia paves the way for enlisting people over 40 in the army

The Russian parliament has said it will consider a bill allowing Russians over 40 and foreigners over 30 to enlist in the military. The website of the lower house of parliament said the move would allow the military to use the skills of older professionals.

Dear reader,

Business Standard has always endeavored to provide up-to-date information and commentary on developments that matter to you and that have wider political and economic implications for the country and the world. Your constant encouragement and feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even in these challenging times stemming from Covid-19, we remain committed to keeping you informed and updated with credible news, authoritative opinions and incisive commentary on relevant topical issues.
However, we have a request.

As we battle the economic impact of the pandemic, we need your support even more so that we can continue to bring you more great content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of bringing you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism we are committed to.

Support quality journalism and subscribe to Business Standard.

digital editor

Comments are closed.