A rain of dollars in Ukraine

Huge funds have been flooding Ukraine since the war began on February 24, 2022. But President Zelensky preferred even more. What is this money used for and who controls its use?

Dollars for Ukraine (Photo Unlimphotos)

The U.S. Senate is expected to vote on a $ 40 billion extension for Ukraine, this Wednesday, May 18. A massive envelope aimed at bringing new military, economic and humanitarian aid to kyiv, in the war with Russia. This amount is in addition to the 13.6 billion dollars already paid by the United States in support of the war effort.

House of Representatives Speaker Nancy Pelosi said, “America is sending a resounding message to the world through this package of assistance of our unwavering determination to stand with the brave people of Ukraine until to overcome victory.Message addressed especially to Putin since Nancy Pelosi went on Sunday to kyiv where she met President Volodymyr Zelensky.

Europe’s billions

The European Union has also released massive funds to help Ukraine. In particular, 17 billion euros to support Member States hosting Ukrainian refugees, along with 1.2 billion for macro-financial aid to Ukraine and another billion to support the armed forces.
This European aid is in addition to EU Member States and G7 countries. Hundreds of millions were sent to Ukraine between February 24 and March 25, 2022 by Poland (962 M €), United Kingdom (721 M €), Germany (492 M €), France (416 M €), Italy ( € 260m) and much more according to figures from the Kiel institute for the World Economy
The numbers came to a halt on March 25. Since then, France has released funds for a total of 2 billion euros! Money is flowing to Ukraine as bilateral aid is added to the uninterrupted rain of money. The European Investment Bank signed a check for 2 billion.
Let’s also add private collections that are hard to check. Because of the global media hype about this war, presented as the struggle of Good against Evil, money is coming from all over the planet. The donation campaign Let’s go for Ukraine – Agir pour l’Ukraine – launched on March 25 has raised more than 10 billion euros, a large part of which comes from the European Union.

Crowdfunding

In this particular context, President Volodymyr Zelensky launched a new appeal for donations, saying his country needs 7 billion per month “to compensate for the economic losses of the war”. But most of all, after the war, it would take a lot of money to rebuild the country. So is this crowdfunding through the United24 platform.
“All funds will be transferred to the National Bank of Ukraine and allocated to the relevant ministries,” said the Ukrainian president, adding that reports on the distribution of funds will be published “every 24 hours”.
For good measure, the IMF calls on all countries to “unite” for Ukraine by providing donations instead of loans.

A blessing for business

That’s a lot, a lot of money. And during the war, the business continued. Despite the appalling suffering of Ukrainian citizens, the business is particularly profitable for some arms industrial groups, for example. They renew their stocks and test the quality of equipment in real combat conditions. Everything is beautiful.
Banks and other financial organizations are also taking advantage of the windfall to take high commissions on these large fund transfers, as noted by UFC-Que Choisir.
It is difficult, so far, to know in detail who and how this jackpot is administered. But in the United States as in Europe, citizens ’associations are wondering about this enormous amount being sent to Ukraine when some American states are living in misery.
Same thing in France, which has allocated an additional € 300 million to Ukraine, while assistance for the homeless is € 7 per day!

“Endemic Corruption”

Can financial and military aid be diverted from its purpose? This is what Pascal Boniface, director of IRIS (Institute of International and Strategic Relations) thinks, to whom money and weapons will be partially captured by mafia networks.
Ukraine has long been known as a country where corruption is “endemic,” as Geo reminds us. In its 2021 report, Transparency International ranked it 122nd out of 180. It is better than 2014 (142nd) and better than Russia (136th in 2021), but it is far from neighbors in Europe. President Volodymyr Zelensky, a 44-year-old former comedian new to politics, elected in 2019, has promised zero tolerance for corruption. But its struggle in this area has stalled further, prompting criticism from Western countries and international donors. »
In Odessa, “a city plagued by violence and corruption, the mayor and his clan nonetheless represent everything the 2014 revolution wants to destroy” Le Monde wrote. One of the most famous bosses of the Ukrainian mafia, Simon Mogilevitch has made huge wealth through organized crime.

Do these powerful mafia networks work on the distribution of funds granted to Ukraine? It is hard to say even that many observers have noticed that hundreds of luxury cars arrive in Ukraine every day at the border. Awesome for a country at war.
As for weapons, experts estimate that about a third reaches Ukrainian forces, a third is destroyed by the Russian army and a third goes into the hands of criminal organizations that resell this, especially in Africa. (Let’s talk about this soon).

Ukraine: War is also a business

Leave a Comment