Russia’s troop build-up on Ukraine’s border and the threat of a broad full-scale incursion sent alarmed chancelleries scurrying to make calls for Moscow to step back from the brink.

The country's economy has been hit hard by the COVID-19 pandemic restrictions and contracted by 4.4 percent last year. In the first quarter of this year, Ukraine's gross domestic product (GDP) contracted by 2 percent year-on-year, casting doubt on 2021 growth predictions, which are in the range of 4-5 percent.