America, Britain, and other countries have provided significant aid to Ukraine since the Russian invasion. The total amount of aid varies depending on the type of support included. When considering military support alone, the US has contributed €64bn, while European nations, including the UK, have provided €62bn. However, when humanitarian and financial assistance are factored in, European support surpasses American aid, totaling €132bn compared to €114bn from the US.
It’s important to note that cash numbers alone do not accurately reflect a country’s ability to contribute. When looking at aid as a percentage of gross domestic product (GDP), the US and the UK are comparable, both contributing around 0.5% of their GDP to support Ukraine. In contrast, countries like Denmark, Estonia, and the Baltics have been more generous, providing approximately 2% of their GDP for aid.
Comparing the current aid to previous conflicts, such as WWII, the Vietnam and Korean Wars, and the first Gulf War, the amounts spent on Ukraine are significantly lower. Even during the first Gulf War, countries like the US, UK, Germany, and Japan provided more aid to Kuwait and other affected nations than what is currently being spent on Ukraine.
President Trump has expressed interest in recouping $500bn from Ukraine through revenues generated from mining rare earth metals. However, the feasibility of this plan is questionable, as Ukraine’s rare earth deposits have not been exploited due to high mining costs. Additionally, even if Ukraine were to become a major producer of rare earths, it would still be a minor player in the global market.
Ukraine also possesses other valuable resources, such as coal in the Donbas region and iron ore reserves in the south. These resources, located in or near Russian-occupied areas, could potentially generate significant revenue for Ukraine. It may be the key to Ukraine’s ability to repay the aid provided by the US and other countries.
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