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Europe Can’t Fund ‘Lost’ War in Ukraine Without US, Orban Says (www.bloomberg.com)

submitted 1 week ago by [email protected] to c/[email protected]

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Europe won’t be able to finance Ukraine’s defenses against Russia’s invasion on its own if the US withdraws support under Donald Trump’s next presidency, Hungarian Prime Minister Viktor Orban said Friday.

Orban said recent events vindicated the conclusions from his controversial July diplomatic mission to Kyiv, Moscow and Beijing and showed Ukraine was losing the war.

“The Americans are going to get out of this war,” Orban, who is hosting a European Union summit in Budapest on Friday, said on public radio. “Europe can’t finance this war on its own.”

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[–] [email protected] 9 points 1 week ago* (last edited 1 week ago)

Meanwhile in the real world. Russia was able to successfully redirect its trade towards the Global South at this point. https://www.reuters.com/business/energy/russian-oil-gas-revenue-soars-41-first-half-data-shows-2024-07-03/

The World Bank just reclassified Russia as a high income country https://blogs.worldbank.org/en/opendata/world-bank-country-classifications-by-income-level-for-2024-2025

Meanwhile, the IMF forecasts that Russian economy is set to grow faster than all the western economies https://www.cnbc.com/2024/04/17/russia-forecast-to-grow-faster-than-advanced-economies-in-2024-imf.html

Europe is the big loser here after Ukraine. Having lost access to the Russian market and cheap energy. Meanwhile, Russia selling energy on the cheap to China and India makes Europe uncompetitive in terms of manufacturing.