21. Why a Ukrainian Victory Matters to Americans
- Author:
- Peter Rough and Luke Coffey
- Publication Date:
- 07-2023
- Content Type:
- Policy Brief
- Institution:
- Hudson Institute
- Abstract:
- Ukraine aid is a good investment for the US. The United States has given Ukraine $43.7 billion in military assistance since Russia’s full-scale invasion last year. This is about 5 percent of America’s fiscal year 2023 defense budget, or less than two-tenths of 1 percent of its gross domestic product. Ukraine is degrading one of America’s two major adversaries. Ukraine has destroyed more than 11,350 pieces of Russian military equipment, including 2,164 main battle tanks, 2,566 infantry fighting vehicles, more than 500 pieces of towed artillery and multiple rocket launchers, 84 aircraft, 99 helicopters, and 12 naval ships—all without shedding a single drop of US blood. President Zelensky: “Ukraine never asked American soldiers to fight on our land instead of us.” Ukraine matters to the US economy. In 2021, Europe accounted for $3.19 trillion of foreign capital investment in the US (out of a total of $4.98 trillion). In 2022, 45 out of 50 states—including the largest single-state economy, California—exported more goods to Europe than to China. Ukraine shapes global commodities markets. Ukraine ranks in the top ten in the production of corn, wheat, barley, sunflower, sunflower oil, sunflower meal, and canola. It has reserves of 117 of the 120 most widely used minerals and metals in the world, including titanium, iron, lithium, coal, and other energy deposits. At present, Russia occupies Ukrainian territory containing at least $12.4 trillion worth of raw materials.
- Topic:
- Foreign Policy, Military Aid, and Russia-Ukraine War
- Political Geography:
- Europe, Ukraine, and North America