The International Monetary Fund is close to pushing through a near $15bn
(£9bn) package of aid to support Ukraine as a leading ratings agency warns
over the impact of sanctions on Russian energy companies.
The funding falls short
of the $20bn programme that Ukraine’s interim government had pushed for.
However, the package will ease fears that Russia will be able to place an
economic stranglehold over Kiev after Moscow annexed Crimea.
The support could also unlock up to $1bn of loan guarantees from the US
government for Ukraine. President Barack Obama reiterated his support saying the US would “never waiver” in backing Nato allies.
The US and the European Union are working on tougher sanctions in order to hit
back at Russian President Vladimir Putin over the situation in Ukraine.
“Energy is obviously a central focus of our efforts”, said Obama in
Brussels adding that it “will have some impact on the global economy”.
