Ukraine Fatigue? British War Support Wanes Amid Energy Hyperinflation
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Ukraine Fatigue? British War Support Wanes Amid Energy Hyperinflation
The Sunday Times reported the UK’s financial support for Ukraine could wind down by the end of the year. London has already allocated $2.7 billion in military aid to the wartorn country in Eastern Europe as the conflict just recently marched into the sixth month. Public support is also waning, driven primarily by energy hyperinflation sparked by failed Western sanctions on Russia.
According to a source in the UK Defense Ministry, cited by the newspaper, the UK is running out of weapons and money for Ukraine — this will be a challenge for the next UK Prime Minister, who will face the difficult decision to continue funding Kyiv while domestically, the economic outlook darkens.
Meanwhile, UK citizens are starting to realize Western sanctions on Russia have backfired and led many into fuel poverty:
“I do support arming Ukraine but I’m absolutely bloody terrified by the price of gas.
“I do think we’ve been a little guilty of overly glorifying the Ukrainians.
“I feel we need to think about ending this but I can’t see an end,” said Karine Hyde, 59, a medical practice manager.
Discontent in the UK is growing as energy costs soar. The latest issue to anger Brits is power regulator Ofgem hiked the cap on electricity bills by 80% to a record £3,549 ($4,189) starting on Oct. 1 from £1,971 ($2,330) at present. That cap is expected to rise to £5,439 ($6,427) by January, and £7,272 ($8,594) by spring due to skyrocketing wholesale natural gas prices as Russian supplies to Europe dwindle.
Here’s how energy inflation has crushed real earnings for Brits, making their lives absolutely miserable as they have to pull back on spending.
Soaring
Continue reading Ukraine Fatigue? British War Support Wanes Amid Energy Hyperinflation at ZeroHedge.
