History
Historically, Cyrillic U evolved as a specifically East Slavic short form of the digraph ⟨оу⟩ used in ancient Slavic texts to represent /u/. The digraph was itself a direct loan from the Greek alphabet, where the combination ⟨ου⟩ (omicron-upsilon) was also used to represent /u/.
Consequently, the form of the letter is derived from Greek upsilon ⟨Υ υ⟩, which was parallelly also taken over into the Cyrillic alphabet in another form, as Izhitsa ⟨Ѵ⟩. (The letter Izhitsa was removed from the Russian alphabet in the orthography reform of 1917/19.)
Read more about this topic: U (Cyrillic)
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“Racism is an ism to which everyone in the world today is exposed; for or against, we must take sides. And the history of the future will differ according to the decision which we make.”
—Ruth Benedict (1887–1948)