EU Okays 11th Sanctions Package vs Russia

European Union (EU) ambassadors late last month backed the 11th sanctions package against Russia, the Swedish government reported while presiding over the Council of the EU, Kyiv Independent reported.

Photo Insert: The Kremlin has managed to keep Russia's economy afloat despite the barrage of Western sanctions.

As this developed, Ukraine Daily reported that the World Bank (WB) on June 21 announced a new financing package worth $1.75 billion for emergency assistance for the rehabilitation of Ukraine.

Andrew Forrest, the second-richest Australian, announced recently that he would be seeding the Ukraine Development Fund (UDF) with $500 million and called on other investors to follow suit.

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