Ukraine calls on Philippine business community to stop deals with Russia
MANILA, Philippines (Updated 4:10 p.m.) — Ukraine is calling on the Philippine business community to terminate business deals with Russia.
In a statement, non-resident Ukraine Ambassador to the Philippines Olexander Nechytaylo said “every dollar earned by Russia will be used, directly or indirectly, to continue the criminal war in Ukraine.”
“We call to join ethically and socially responsible global businesses, which have already stopped or suspended operations with or in the Russian Federation, refusing to finance Russian violence, murders and crimes against humanity with their taxes,” Nechytaylo said.
Companies and brands from around the world have been suspending, exiting, or reducing business operations in Russia following its attack on neighboring Ukraine. The long list includes Ford, Harley-Davidson, Honda, Burger King, McDonald’s, Starbucks, Deloitte, H&M and Uniqlo.
The United Nations High Commissioner for Refugees said over 2 million left Ukraine due to the war.
Firms, together with individuals and other groups, have donated $300 million to UNCHR’s $500-million emergency program in Ukraine and its neighboring countries.
UNHCR needs about $500m for its emergency work in Ukraine and neighbouring countries.
— Filippo Grandi (@FilippoGrandi) March 10, 2022
So far we have received over $300m of which almost $200m from individuals, companies and foundations.
This is unprecedented: a sign of extraordinary solidarity with the people of Ukraine.
Back home, the European Chamber of Commerce of the Philippines released a statement of solidarity with Ukraine “as they fight for their independence, sovereignty, and international integrity.”
The ECCP also underscored the war’s threat to the global economy.
“National business organizations and think tanks underscore that fragile economic recovery may be worsened by the spillover effects of the conflict on global consumer prices and supply of commodities,” the ECCP said.
“Rebound on world economies inflicted by the COVID-19 pandemic will likewise be disrupted by the near-term inflation pressures globally brought about by the war against Ukraine,” it added.
Meanwhile, Philippine Chamber of Commerce and Industry chair Sergio Ortiz-Luis Jr. said there is divided opinion on "who has the ball" between the United States and Russia.
"Haven’t made any publicity but judging on what I hear, majority feels we should not interfere there. There is prevailing feeling that is US, NATO that started this problem," Ortiz-Luis said. — Kaycee Valmonte with report from Ramon Royandoyan
Follow this page for updates on the economic and political consequences of the Ukraine-Russia conflict. Photo courtesy of AFP/Stefani Reynolds
US President Joe Biden welcomes a deal to avert a government shutdown but calls for Congress to swiftly approve aid to Ukraine after it was left out of the agreement.
"We cannot under any circumstances allow American support for Ukraine to be interrupted," Biden says in a statement.
"I fully expect the Speaker will keep his commitment to the people of Ukraine and secure passage of the support needed to help Ukraine at this critical moment," he adds, referring to Republican House leader Kevin McCarthy. — AFP
The Ukrainian military on Thursday says that Russia had launched a "massive" drone attack overnight and that it had destroyed 31 out of the 39 aircraft.
Russian unmanned aerial vehicles were intercepted over Black Sea coastal regions and further inland, says Nataliya Gumenyuk, spokeswoman for the Ukrainian southern military command.
Russia "does not stop the pressure and searching for new tactics: namely, with the use of mass attacks", Gumenyuk says on the messaging platform Telegram. — AFP
Japan dials up sanctions against Russia over its invasion of Ukraine, announcing an expanded list on Friday that included an export ban on electric vehicles.
Russia was hit with a wave of sanctions after it sent forces into Ukraine in February last year, but calls have grown from Kyiv and its allies for tougher action against Moscow.
Tokyo has already frozen assets of Russian individuals and groups, and banned the export of goods to Russia's military-related organisations, as well as the export of construction and engineering services. — AFP
Biden administration announces additional security assistance for Ukraine for its critical security and defense needs.
The United States Department of Defense says that the commitment to security assistance is valued at up to $400 million.
This includes additional air defense munitions, artillery and other ammunition, armored vehicles, anti-armor weapons, and other equipment to help Ukraine counter Russia’s ongoing war of aggression.
The Kremlin on Tuesday issues a veiled warning over the future of grain exports from Ukraine following Moscow's exit from a landmark deal allowing passage for cargo ships from three Ukraine ports.
Kyiv had said it was prepared to continue grain exports despite the Russian withdrawal, which sparked outrage from the United Nations and the West.
"Without appropriate security guarantees, certain risks arise here. If (a future agreement) is formalised without Russia, then these risks should be taken into account," Kremlin spokesman Dmitry Peskov says. — AFP
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