When the U.S. government shuts down for the winter, Russia and the rest of the world are left to care for each other
News24 | Feb 20, 2018 12:00:00 Russia has taken some of the first steps towards rebuilding its economy after the fall of the Soviet Union, with President Vladimir Putin announcing he will establish a new National Fund for International Cooperation to provide financial assistance to the countries in the countrys former sphere of influence.
The president’s announcement comes in the face of a U.N. Security Council resolution, passed on February 9, which imposed sanctions on Russia for the ongoing conflict in eastern Ukraine, which the Kremlin denies is a threat to its national security.
Russia was the first country to implement the resolution in December, which also threatened to cut off aid to the country.
Putin also announced the creation of a new Russian National Emergency Management Fund for Ukraine, with the aim of helping the country rebuild after the devastating impact of the war in the region, the Kremlin said in a statement on Saturday.
“Our country has received more than $1 billion, but its reconstruction is in danger, so I’m building the Russian Emergency Management fund to help Ukraine recover from the consequences of the conflict in its neighboring region of Donbass,” Putin said in the statement.
The fund will provide $3 billion, with half of the funds earmarked for Ukrainian reconstruction.
The statement added that the fund will also provide financial support for Russian businesses and companies operating in Ukraine, as well as to the Ukrainian military and security forces.
“We are ready to help the Ukrainian people and our compatriots rebuild their country, to rebuild their infrastructure, to start their recovery and build a new future for Ukraine,” the president said.
“This is the national responsibility of the Ukrainian government, which has to take the responsibility for this.”
President Putin signed the bill into law in the capital, Moscow, on February 17.
The country has been hit hard by the crisis in Ukraine.
The war between pro-Russian separatists and Ukrainian government forces has killed more than 6,000 people and displaced millions of people.
Russia has denied arming the rebels and has backed Kiev’s territorial integrity in the conflict.