EU Ups the Stakes Amid Ukraine-Russia Tensions with 1.2 Billion Euros in Aid

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The EU has upped the stakes amid the Ukraine-Russia tensions with 1.2 billion Euros in aid to Kyiv on top of 17 billion Euros in earlier financial assistance.

“Last Friday, I spoke with President Zelenskyy to assess the situation in Ukraine created by Russia’s aggressive actions…. As ever, the EU stands by Ukraine in these difficult circumstances. We are firm in our resolve.”

President von der Leyen

Tensions between Russia and Ukraine reached new heights today, prompting the UK to withdraw half of its embassy staff on fears that Moscow will launch an invasion, reports the BBC.

The EU has staked six billion Euros in investment in Ukraine and will continue to support the nation, said President von der Leyen.

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.”

President von der Leyen

In the latest developments, there is an arms buildup along the border between Russia and Ukraine, with reports of 100,000 Russian troops on standby. In Europe, NATO military resources are heading for Eastern Europe amid concerns of war breaking out in the region.

Ukraine is located between Russia and the Eastern European countries Romania, Moldova and Hungary. It became independent in 1991 after the Soviet Union collapsed. Since then, there has been a power struggle over the country’s strategic location, with Russia rejecting NATO and EU ambitions in Ukraine. Kyiv has aligned itself with the EU in the dispute against the Kremlin’s attempts to control its future.

The outlook is pessimistic, especially taking into account Putin’s annexation of Crimea (2014) and invasion of Georgia (2008).

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Sarah Fenwick

Sarah Fenwick co-founded CyprusNewsReport in 2009. She is an experienced content writer and editor. Sarah trained as a journalist, her experience includes writing for the forex, financial services and media industries.