LONDON Some of the world's poorest countries face budget cuts topping $220 billion over the coming five years

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The Russian ambassador to the UK Andrei Kelin has claimed that Russia has not yet started acting “seriously” in Ukraine. In an interview on the BBC’s Kuenssberg show, Kelin said Russia is “yet to act very seriously” in Ukraine, and warned Russia has “enormous resources” to fight. Ambassador Kelin also warned of a “new dimension” in the Russia-Ukraine war. He said: “It is a big idealistic mistake to think that Ukraine will prevail. Russia is 16 times bigger than Ukraine. We have enormous resources and we haven’t just started yet to act very seriously. “We are just defending the lands which are under control and assisting Russian people over there. We are rebuilding the Donbas. “It depends on the escalation of war that is taking place. Sooner or later this escalation might have a new dimension that we do not need and we do not want. We can make peace tomorrow, if Ukrainian side will be prepared to negotiate but there is no preconditions for that.” Ambassador Kelin’s claims of “enormous resources” come after reports that Russian forces on the ground are poorly equipped and without proper training. Read More Russia has started deploying tactical nuclear warheads to Belarus, says Lukashenko As the Ukraine war spills into Russia, a dangerous new front is about to explode The Russians out for revenge on Putin Roger Waters ‘dresses as SS officer’ and projects Anne Frank’s name onto stage during gigs in Germany

By Saeed Azhar, Lananh Nguyen and Tatiana Bautzer NEW YORK Goldman Sachs Group Inc's managing directors were invited

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