EBRD and US join forces to help Ukraine

Published in World
Tuesday, 23 August 2022 11:55

The European Bank for Reconstruction and Development (EBRD) and the United States of America have joined forces to respond to the impact of the war on Ukraine. The United States of America has announced it will contribute US$ 500 million in donor funds to the EBRD’s response to the war on Ukraine.

The funding comes in the form of grants to support investment. It marks a significant milestone in the Bank’s fundraising efforts, which have mobilised some €1 billion for Ukraine and affected countries so far.

The contribution agreement we are signing today between the USA and the EBRD has come at exactly the right time. We will start deploying it in Ukraine and neighbouring countries as soon as we can,” said Odile Renaud-Basso, the EBRD President.

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Press release

$775 Million in Additional U.S. Military Assistance for Ukraine

Published in Politics
Monday, 22 August 2022 12:46

PRESS STATEMENT

ANTONY J. BLINKEN, SECRETARY OF STATE

As we approach the six-month mark of Russia’s unprovoked and brutal full-scale war against Ukraine, President Putin’s forces continue their assault, inflicting grievous harm on civilians and causing massive destruction of civilian infrastructure. President Biden has been clear that we will continue to support the people of Ukraine in defending their country from Russia’s aggression for as long as it takes.

As part of those efforts, pursuant to a delegation of authority from the President, today I am authorizing our nineteenth drawdown since September 2021 of U.S. arms and equipment utilizing this authority.  This $775 million drawdown includes additional arms, munitions, and equipment from U.S. Department of Defense inventories, equipment that Ukraine’s forces have used so effectively for their country’s defense.  This package brings total U.S. security assistance committed to Ukraine to approximately $10.6 billion since the beginning of this Administration.

The United States stands with our Allies and partners from more than 50 countries in providing vital security assistance to support Ukraine’s defense of its sovereignty and territorial integrity.  The courage and strength of Ukraine’s military and its people are extraordinary, and the United States will continue to provide additional systems and capabilities for Ukraine.  These capabilities are carefully calibrated to make the most difference on the battlefield and strengthen Ukraine’s position at the negotiating table.

By  

EU and UNDP sign $21 million agreement to remove debris and restore critical infrastructure

Published in Economics
Friday, 19 August 2022 15:22

The European Commission will provide $21 million to the United Nations Development Programme (UNDP) to support work to dismantle infrastructure in Ukraine that has collapsed as a result of Russian aggression.

The funds will also be used to identify, map and neutralise explosive ordnance and urgent environmental threats. They will also be used to repair or purchase strategic elements of infrastructure in the affected areas, such as transformers, thermal substations, water pumps, heat and water pipes, water decontamination systems and renewable energy supply equipment.

This project will restore power and water stations and heating utilities. These are essential services that will give residents dignified lives and livelihoods at home,” said Manal Fouani, UNDP interim Resident Representative in Ukraine.

The upcoming winter season will be very harsh and we need to do our utmost to make sure that people and the authorities have the necessary infrastructure operational”, said Matti Maasikas Head of the EU Delegation to Ukraine.

The project is a part of the UNDP Resilience Building and Recovery Programme, launched by UNDP in April 2022 to support the Government of Ukraine to sustain essential governance structures for emergency response management, deliver vital public services, and protect livelihoods.

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Press release

EBRD supports Ukraine’s Bank Lviv with €10 million loan for lending to SMEs affected by war

Published in World
Thursday, 18 August 2022 13:27

The European Bank for Reconstruction and Development (EBRD) announced that it will support Ukraine’s Bank Lviv with up to €10 million to lend to private enterprises, including food security clients and those who have relocated their businesses to western Ukraine.

The EBRD’s share of €4.25 million will be complemented by up to €5.75 million funding from other lenders, including €4.75 million jointly contributed by the European Fund for Southeastern Europe (EFSE) and the Green for Growth Fund (GGF).

The loan falls within the EBRD’s Resilience and Livelihoods Framework (RLF) for companies and countries affected by Russia’s war on Ukraine, which began on 24 February. With donors and partners, the EBRD has pledged to invest €1 billion into the Ukrainian economy this year.

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Press release

G7 Foreign Ministers demand Russia immediately return control of Zaporizhzhya nuclear plant to Ukraine

Published in Politics
Monday, 15 August 2022 11:24

On 10 August, G7 Foreign Ministers, including the EU High Representative Josep Borrell,  demanded that Russia immediately hand back full control of the Zaporizhzhya Nuclear Power Plant and of all the nuclear facilities to its rightful sovereign owner, Ukraine. This will ensure their safe and secure operation. 

“Ukrainian staff operating the Zaporizhzhya Nuclear Power Plant must be able to carry out their duties without threats or pressure. It is Russia’s continued control of the plant that endangers the region,” says the G7 statement.

The ministers warned that the seizure of Ukrainian nuclear facilities and other actions by Russian armed forces significantly raise the risk of a nuclear accident or incident and endangering the population of Ukraine, neighboring states and the international community. It also undermines the International Atomic Energy Agency’s (IAEA) ability to monitor Ukraine’s peaceful nuclear activities for safeguarding purposes.

“IAEA staff must be able to access all nuclear facilities in Ukraine safely and without impediment, and engage directly, and without interference, with the Ukrainian personnel responsible for the operation of these facilities,” says the statement.

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Press release

EU welcomes international condemnation of Russia for violation of aviation rules

Published in Politics
Monday, 08 August 2022 11:41

The European Commission has welcomed the decision by the International Civil Aviation Organization (ICAO) to call on the Russian Federation to immediately cease its infractions of international aviation rules, in order to preserve the safety and security of civil aviation. 

The ICAO decision refers to the violation of Ukraine’s sovereign airspace in the context of Russia’s war of aggression, and to the deliberate and continued violation of several safety requirements in an attempt by the Russian government to circumvent EU sanctions. These actions include illegally double-registering in Russia aircraft stolen from leasing companies, and permitting Russian airlines to operate these aircraft on international routes without a valid Certificate of Airworthiness, which is the necessary safety certificate.

Adina Vălean, European Commissioner responsible for Transport, said: “It is of utmost importance for all countries to defend the international aviation rules-based system, for the safety of passengers and crew. Russia continues to disrespect the fundamental rules of international aviation and to instruct its airlines to work against these rules. I welcome the ICAO Council’s clear condemnation, which reflects the gravity of the actions undertaken by Russia.

ICAO yesterday informed its 193 Member States about Russia’s blatant non-respect of crucial international aviation law and will bring the issue to its next general Assembly, taking place from 27 September to 7 October 2022.

Russia’s aggression against Ukraine: EU imposes restrictive measures on Viktor and Oleksandr Yanukovych

Published in World
Friday, 05 August 2022 14:25

The EU today decided to impose restrictive measures against pro-Russian former Ukrainian President Viktor Yanukovych and his son Oleksandr in response to the ongoing unjustified and unprovoked Russian military aggression against Ukraine.

The Council of the European Union added Viktor Fedorovych Yanukovych and his son Oleksandr Viktorovych Yanukovych to the list of persons, entities and bodies subject torestrictive measures for their role in undermining or threatening the territorial integrity, sovereignty and independence of Ukraine and the state’s stability and security, as well as – in the case of Oleksandr Viktorovych Yanukovych – for conducting transactions with the separatist groups in the Donbas region of Ukraine.

The relevant legal acts have been published in the Official Journal of the EU.

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Press release

EU releases first tranche of new €1 billion macro-financial assistance for Ukraine

Published in Economics
Tuesday, 02 August 2022 15:00

The European Commission today disbursed the first half (€500 million) of a new €1 billion macro-financial assistance (MFA) operation for Ukraine. The second tranche (another €500 million) will be disbursed tomorrow, 2 August. 

This additional assistance of €1 billion is part of the extraordinary effort by the EU, alongside the international community, to help Ukraine address its immediate financial needs following the unprovoked and unjustified aggression by Russia. It is the first part of the exceptional MFA package of up to €9 billion announced in the Commission’s communication of 18 May 2022 and endorsed by the European Council of 23-24 June 2022. It complements the support already provided by the EU, including a €1.2 billion emergency MFA loan paid out in the first half of the year. Taken together, the two strands of the programme bring the total MFA support to Ukraine since the beginning of the war to €2.2 billion.

The funds have been made available to Ukraine in the form of long-term loans on favourable terms. The assistance supports Ukraine’s macroeconomic stability and overall resilience in the context of Russia’s military aggression and the ensuing economic challenges. In a further expression of solidarity, the EU budget will cover the interest costs on this loan. 

This financial assistance comes in addition to the unprecedented support provided by the EU to date, notably humanitarian, development and defence assistance, the suspension of all import duties on Ukrainian exports for one year or other solidarity initiatives, e.g. to address transport bottlenecks so that exports, in particular of grains, could be ensured.

Valdis Dombrovskis, the European Commission’s Executive Vice-President for An Economy that Works for People said: “This €1 billion payment is a first part of our €9 billion macro-financial assistance package to help Ukraine meet its emergency financial needs caused by Russia’s brutal war. At the same time, we are working closely with EU Member States and our international partners on the next steps to rebuild Ukraine for the longer term. The EU will provide all political, financial, military and humanitarian support required to assist Ukraine and its people in the face of Russia’s continued illegal aggression – for as long as it takes.”

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Press release

Ukraine: EU condemns latest Russian atrocities

Published in World
Monday, 01 August 2022 14:07

The European Union on Friday condemned “in the strongest possible terms the atrocities committed by the Russian armed forces and their proxies.

A statement issued by EU High Representative Josep Borrell said Russia’s ongoing illegitimate and unjustified war of aggression against Ukraine and its people brought further horrific atrocities day by day. 

“Today in Olenivka, in eastern Ukraine, Russia is reported to have killed dozens of Ukrainian prisoners of war, including defenders of Mariupol’s Azovstal steel plant, who surrendered to Russia, were registered by the ICRC in May and were in Russia’s legal protection under international humanitarian law. Evidence in form of appalling video footage has been widely shared on pro-Kremlin social networks today, in which Russian soldiers commit a heinous atrocity against a Ukrainian prisoner of war.” 

Borrell added: These inhumane, barbaric acts represent severe breaches of the Geneva conventions and their Additional Protocol and amount to war crimes. 

The perpetrators of war crimes and other serious violations, as well as the responsible government officials and military representatives, will be held accountable, the statement said. 

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Press release

EU renews sanctions against Russia for another six months

Published in World
Thursday, 28 July 2022 12:52

The Council of the European Union today decided to prolong by six months, until 31 January 2023, the restrictive measures targeting specific sectors of the economy of the Russian Federation.

These sanctions, first introduced in 2014 in response to Russia’s actions destabilising the situation in Ukraine, have been significantly expanded since February 2022, in light of Russia’s unprovoked and unjustified military aggression against Ukraine. They currently consist of a broad spectrum of sectoral measures, including restrictions on finance, energy, technology and dual-use goods, industry, transport and luxury goods.

In addition to the economic sanctions on the Russian Federation, the EU has in place different types of measures in response to Russia’s destabilising actions against Ukraine. These include: restrictions on economic relations with the illegally annexed Crimea and the city of Sevastopol as well as the non-government controlled areas of the Donetsk and Luhansk oblasts; individual restrictive measures (asset freezes and travel restrictions) on a broad range of individuals and entities,  and diplomatic measures.

Since 24 February, the EU has adopted a number of unprecedented and hard-hitting packages of sanctions in response to Russia’s full-scale invasion of Ukraine.

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Press release

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