Commodities | EEMEA | ESG & Climate Change | UK
To Hamstring Russia, Firms and Households Must Play Their Part
- By Henry Occleston
- 6min read
Summary
- The Russian invasion of Ukraine has outraged much of Europe, and the rest of the world.
- Aid to the Ukrainian administration is sizeable, but it pales before the amount the EU pays to Russia for energy imports.
- Supply diversification is a long-term solution. However, in the near term, we calculate that individuals and firms can make a sizeable contribution right now.
Europe Supports Ukraine – It Just Supports Russia More…
Europe is united in its horror at Russia’s invasion of Ukraine. Outrage has been sufficient for Germany to reverse its policy of pacifism and for Finland and Sweden to consider joining NATO. In monetary terms, it has driven an unprecedented commitment to send aid. This comes via €450mn in lethal and €50mn in non-lethal distributions from the (ironically named) European Peace Facility (EPF), €300mn from the EU’s Macro-Financial Assistance fund (to rise to €1.2bn eventually), and £526mn from the UK. That is not to mention the additional money and arms individual EU nations have donated.
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