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Qatar to provide Ukraine $100mln as war profits soar

The Cradle | July 29, 2023

Qatar will provide Ukraine with $100 million in humanitarian aid, Ukrainian Prime Minister Denys Shmyhal announced on 28 July following the visit of Qatari Prime Minister Sheikh Mohammed Bin Abdulrahman Al-Thani to Kiev.

“This money will be channeled for reconstruction in the health and education sectors, humanitarian de-mining, and other important social and humanitarian projects,” Shmyhal told a briefing.

Sheikh Mohammad also met with Ukrainian President Volodymyr Zelensky to discuss global food security and the expired Black Sea grain deal in his first visit to Ukraine since the start of the war with Russia last year.

“We appreciate this visit and consider it an important manifestation of Qatar’s support and solidarity with our country. We are sincerely grateful for all the assistance received from Qatar,” Zelensky said.

The grain deal, brokered by Turkiye and the UN in July 2022, ensured that Ukrainian grain could still be exported from its southern Black Sea ports, despite the fighting and that Russian grain and fertilizers could still be exported despite western-imposed sanctions.

The deal came amid fears that a disruption in Russian and Ukrainian grain exports would cause price increases in world food markets, leading to humanitarian disasters in poor countries.

Russia withdrew from the agreement on July 17, claiming Ukraine and the UN had not lived up to their end of the deal.

Sheikh Mohammad and Zelensky’s talks also focused on the Ukrainian Peace Formula and the Ukraine Recovery Plan. Zelensky emphasized the opportunities for Qatari investment funds and business circles to participate in Ukrainian reconstruction, according to the Office of the Presidency of Ukraine.

Qatar has benefited significantly from the war in Ukraine. US and EU sanctions cut off Russian natural gas supplies to Europe, causing prices to skyrocket and allowing Qatar to emerge as an important alternative natural gas supplier.

In late November, QatarEnergy and ConocoPhillips signed agreements to export 2 million tons of liquified natural gas yearly to Germany for at least 15 years, starting in 2026.

Europe’s newfound need for Qatari liquefied natural gas comes after Qatar started a $30 billion project to boost its exports by 60 percent by 2027.

Before the start of the Ukraine war, some analysts doubted there would be enough natural gas demand to justify the expansion plan, Bloomberg noted.

July 29, 2023 - Posted by | Economics, Militarism | , , , ,

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