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US warns against Russian military intervention in Ukraine

The United States has warned Russia that it would be a "grave mistake" to embark on military intervention in Ukraine.

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Ukraine needs around £21bn of foreign assistance

People attend a rally organized by supporters of EU integration at Maidan Nezalezhnosti Credit: Reuters/Gleb Garanich

Ukraine's finance ministry has said that the country needs around $35 billion (£21bn) in foreign assistance over the next two years and asked for the first part of the aid in the next few weeks.

Ukraine faces state debt payments of around $6 billion in the remainder of this year.

Acting President Oleksander Turchinov, appointed after Viktor Yanukovich was stripped of his powers by parliament on Saturday, said on Sunday Ukraine was near default and the economy was falling into an abyss.

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