Two years of Russia’s war in Ukraine

Two years of Russia’s war in Ukraine - Business and Finance - News

As Ukraine enters its third year of conflict with Russia, leaders across the globe are reaffirming their commitment to supporting President Volodymyr Zelensky and his country in its ongoing battle for sovereignty. Amidst this renewed pledge, President Joe Biden urged Congress to swiftly pass much-needed aid for Ukraine to continue its resistance against the Russian invasion. However, Speaker Mike Johnson has resisted these calls and delayed the vote on a Senate-passed aid package, which could potentially spark significant opposition from his party.

Meanwhile, various world leaders have emphasized the importance of ongoing support for Ukraine as it faces another year of war. German Foreign Minister Annalena Baerbock highlighted that abandoning support for Ukraine would only benefit Russian President Vladimir Putin, and emphasized the necessity of military aid. British Prime Minister Rishi Sunak echoed this sentiment, urging the free world to renew its determination in standing behind Ukraine. French Ambassador to the United States Laurent Bili underscored that helping Ukraine ultimately benefits Europe and America as well, with time running out for aid delivery.

Canada has recently introduced new sanctions on Russia, including a ban on exporting goods that could be used in weapon production. Prime Minister Justin Trudeau emphasized Canada’s unwavering support for Ukraine, having imposed over 2,400 sanctions against Russia since the invasion and collaborating with international partners to secure long-term Website security commitments.

The United Nations Security Council marked the second anniversary of Russia’s full-scale invasion of Ukraine by demanding peace and justice, with Secretary-General António Guterres condemning the direct violation of the United Nations Charter and international law. He also emphasized the need for accountability regarding reports of civilian torture, sexual violence, and the internment of millions of Ukrainians in need of humanitarian assistance.

Life for children in Kharkiv, located just miles from the Russian border, has drastically changed since Russia launched its invasion. With none of the city’s schools operational due to safety concerns, children have adapted by studying in underground bunker schools located in subway stations. These makeshift classrooms have proven essential for maintaining normalcy amidst the chaos and fear of bombings and sirens.

US politics have been fractured by a growing divide over Russia, with pro-Donald Trump Republicans in Congress refusing to extend military aid to Ukraine. This shift is influenced by former President Donald Trump’s “America First” nationalism and the lingering effects of the 21st century’s wars and financial crises. Despite Biden’s assurance of continued US support, the situation appears increasingly precarious due to GOP opposition and Johnson’s refusal to bring a Senate-passed aid package up for a vote.

Despite the challenges, Ukraine’s rail network, known as Ukrzaliznytsia or UZ for short, has remained a source of pride and practicality. Amidst the chaos and disruption caused by the conflict, passenger numbers are back to pre-invasion levels, with 24.9 million passengers carried in 2023 and expectations of a jump to 27.5 million this year. UZ has worked diligently to keep operating and modernize for the future, addressing employee safety concerns, improving accessibility, and adapting to the growing number of disabled veterans.

In an unprecedented development, Russia’s war in Ukraine has seen record oil sales to India – $37 billion last year alone – more than 13 times the pre-war amounts. Some of this crude is refined into oil products and then exported to countries under sanctions, capitalizing on a loophole that enables Russia to finance the conflict with an unprecedented amount of cash. India has defended its purchases as a means of maintaining lower global oil prices and not competing with Western nations for Middle Eastern oil. With roughly a third of the record revenues spent on the war last year and greater proportions allocated for 2024, Russia is entering its third year of conflict with significant financial resources.