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The World Bank's report released Sunday provides further details and numbers. In that report the World Bank revised its projection for Armenia's economic growth in 2022 from 5.3% to 1.2%, noting that "the impact of Russia's invasion of Ukraine on Armenia's economy is likely to be notably negative, but the scale remains undetermined."
On 5 May, Ukraine's Prime Minister Denys Shmyhal announced Ukraine had received more than $12 billion worth of weapons and financial aid from Western countries since the start of Russia's invasion on 24 February. [38] On 10 May, the United States House of Representatives passed legislation that would provide $40 billion in new aid to Ukraine. [39]
Animated map of Russia's invasion of Ukraine through 5 December 2022 (click to play animation) Ukrainian soldiers killed in the Russo-Ukrainian War in 2022. The Russian invasion of Ukraine began on the morning of 24 February 2022, [229] when Putin announced a "special military operation" to "demilitarise and denazify" Ukraine.
The Russian invasion is still very fresh, and its real meaning and impact will unfold slowly, but, more important for 2022, the sanctions the U.S. and its allies have chosen as a response take ...
Because of the increased expenditure for the 2022 Russian invasion of Ukraine, Moscow posted a record budget deficit of US$47.3 billion in 2022 (2.3% of GDP). Some of the reduction in trade with Western Europe was compensated by a record trade balance with China, US$190 billion in 2022. [357]
Russia’s economy, driven by exports of oil, gas, and minerals, grew robustly over the past two years despite multiple rounds of Western sanctions imposed after its invasion of Ukraine in 2022.
In November 2022, during the 2022 G20 Bali summit, China objected to calling the 2022 Russian invasion of Ukraine a "war". [22] In the same month, Russia's ambassador to Beijing announced that Xi Jinping would be visiting Moscow, reportedly before China was ready for an announcement.
Before Russia's full-scale invasion on Feb. 24, 2022, China was Ukraine's biggest trade partner and it remains an important consumer of Ukrainian grain, sunflower oil and iron ore.