Explore Ukraine's latest macroeconomic trends and forecasts to inform business strategy and pinpoint opportunities and risks

Global Response to the Russia-Ukraine Conflict

  • Between January and May, 2022, the US has provided $46 billion in military and non-military support to Ukraine
  • The United Kingdom, the United States, and the European Union have imposed strong economic and financial sanctions on Russia
  • India and China have neither condemned nor condoned the attack

Immediate Global Response by Various Countries

United States

  • $13.6 billion in military and non-military support has been given to Ukraine, an additional $40 billion is currently going through congress. Deployed at least 3,000 extra US troops to Poland, Germany, and Romania
  • Deployed at least 3,000 extra US troops to Poland, Germany, and Romania. 8,500 troops in the US were placed on heightened alert in case a NATO Rapid Response Force is called up

European Union

  • Strong economic sanctions in line with the US, banning the sale or supply of aircraft and related equipment to Russian airlines as well as dual-use technology and technology associated with the oil sector
  • Restricting access to the EU for Russian diplomats and those who have been involved with Russia’s invasion of Ukraine
  • The EU will send $500 million in military aid, including lethal arms to Ukrainian forces, the first time the EU has actively provided arms to a waring nation

United Kingdom

  • The UK has been in Ukraine providing training and non-combative supplies since 2015
  • In 2022, they provided 2000 NLAW anti-tank missiles and in March, said they would provide Starstreak anti-air system to Ukraine
  • Economic sanctions like the US and the EU, although has been slower to implement these sanctions against Russian banks, oligarchs, officials, and Russian companies

China

  • China has neither condemned nor condoned the attack, citing that it does not interfere in the internal affairs of others as a core principle of its foreign policy
  • However, China has signified that is ready to play a role in mediating a ceasefire and possibly go further to end the war through diplomacy. With China’s Foreign Minister Wang Yi signaling China’s support for Ukraine’s sovereignty

India

  • India has neither condemned nor condoned the attack. They have a strong relationship with Russia, with Prime Minister Modi calling Putin a ‘dear friend’. Large amounts of India’s military equipment are of Russian origin
  • However, India was one of the 34 nations in the UN to abstain from a vote condemning Russia’s invasion, this is a surprise as many expected India to vote alongside Russia

Germany

  • Germany has committed itself to the NATO target of 2% of GDP spend on defense, this is a significant increase in funds for the German military. In addition, there are to be an off-budget €100bn ($110bn) fund for modernizing
  • They have overturned previous policies which limited their involvement in armed conflicts and in the transfer of lethal equipment to a waring nation
  • Chancellor Scholz announced they would provide Ukraine with 1,000 AT and 500 Stinger missiles

Finland and Sweden

  • In a rare occurrence both Finland and Sweden have waived their neutrality and provided military assistance to Ukraine
  • Finland has provided 2,500 assault rifles, 1,500 rocket launchers, 150,000 rounds of ammunition and 70,000 field rations
  • Sweden has provided 5,000 anti-tank systems (most likely Carl-Gustaf and NLAW systems)

France, Canada, and the Netherlands

  • France had historically supported Ukraine with $60 million worth of lethal military equipment in 2021; recently they are to provide an additional €300 million of extra lethal equipment including anti-tank, anti-aircraft and ‘digital weapons’ systems
  • Canada has committed $100 million is humanitarian assistance to Ukraine and recently committed to providing lethal military equipment including 100 Carl-Gustaf recoilless AT rifles and 2,000 rockets
  • The Dutch government announced they are to supply 200 Stinger missiles, 50 Panzerfaust AT systems with 400 AT rockets and is considering deploying a Patriot missile system to Slovakia as part of the NATO Rapid Response Force
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