EU PROPOSED $1.35 BILLION FINANCIAL AID PACKAGE FOR UKRAINE

Mon 24 January 2022:

On Monday, the European Commission proposed a €1.2 billion ($1.35 billion) aid package for Ukraine.

“The (European) Commission proposes a new emergency macro-financial assistance package of €1.2 billion. This package will help Ukraine now to address its financing needs due to the conflict,” President of the European Commission Ursula von der Leyen said in a video statement.

If approved by the European Parliament and EU member states, the bloc will immediately disburse half of the amount, she explained.

“Let me be clear once more: Ukraine is a free and sovereign country. It makes its own choices. The EU will continue to stand by its side,” she added.

Last week, von der Leyen warned Russia of “massive economic and financial sanctions” if it attacks Ukraine.

The United States and its European allies have warned that Russia is preparing an invasion of Ukraine by deploying troops over 100,000 troops along its border with the former Soviet republic, as well as considerable artillery and tank deployments.

Moscow has denied planning a military offensive, claiming that its troops are conducting routine drills there.

Following Russia’s illegal annexation of Crimea in 2014, NATO proceeded to beef up its presence in eastern Europe.

SOURCE: INDEPENDENT PRESS AND NEWS AGENCIES

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