Ukraine's War Costs Reach $320 Billion; EU Approves New Sanctions Against Russia Amidst US Diplomatic Efforts

Ukraine has spent $320 billion on the war, with $100 billion provided by the United States, according to President Volodymyr Zelenskyy on Wednesday, February 19. He emphasized the need for reliable security guarantees. The U.S. has allocated $67 billion in military aid to Ukraine and provided $31.5 billion in direct budget support, a move that contrasts with former U.S. President Donald Trump's proposed $500 billion loan. The European Union has agreed to a new round of sanctions against Russia, expected to be formally adopted on Monday, marking the third anniversary of Russia's invasion of Ukraine. This 16th round of EU sanctions contrasts with the U.S.'s approach, which includes bilateral dialogues with Russia aimed at normalizing relations. The EU's measures target Russia's aluminum sector, the "shadow fleet" used to circumvent oil export restrictions, and restrict exports of goods that could be used by the Russian military. Additionally, several individuals and entities have been added to the sanctions list, and more Russian banks will be disconnected from the SWIFT system.