Niger, one of poorest countries in world, struggles under economic sanctions

NIAMEY, NIGER - AUGUST 8: Niger, one of the world's poorest countries, is facing an economic crisis due to regional and international sanctions following the military coup on July 26.The international community has announced consecutive sanctions in an effort to alter the course of the coup, with warnings that these sanctions could result in irreversible consequences for the country.Niger ranks 189th out of 191 countries in the 2022 UN Human Development Index.Despite being the 7th largest supplier of uranium in the world, Niger also ranks 7th among the world's poorest countries.In Niger, where approximately 10 million people (41% of the total population) live in extreme poverty, 40% of the state budget consists of foreign aid.Due to conflicts in neighboring Burkina Faso, Mali and Nigeria, Niger is also dealing with an influx of refugees.According to the UN data, Niger hosts 255,000 refugees who have fled from Burkina Faso, Mali, and Nigeria.EU suspends financial support and cooperationThe EU allocated a budget of €503 million ($554 million) between 2021 and 2024 to be used for education, governance, and sustainable growth.Meanwhile, through the European Peace Facility (EPF), the EU approved a total budget of €70 million ($76 million) last year to support the Nigerien army.France, which announced a $131.6 million aid package for Niger last year, has suspended all development aid and budget support.Germany also reported suspending a two-year aid package worth €120 million ($131 million) approved in 2021.The US, which announced $233 million in aid for Niger this year, said that the aid is at risk due to the coup.Nigeria, which supplies 70% of Niger's electricity needs, cut off the power supply to Niger, leading to a complete halt in electricity provision.The Economic Community of West African States (ECOWAS) announced the cessation of all commercial activities with Niger.(Footage by Balima Boureima/Anadolu Agency via Getty Images)