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U.S. Congress Votes in Favor of Ukraine Aid Package
U.S. Congress has approved a $60.8 billion aid package for Ukraine, boosting defense and economy. The bill includes missile deployment and economic loans, with another bill allowing seizure of Russian assets pending approval. Here’s a recap.
On Saturday 20th of April, US Congress voted in favor of long-awaited $60.8bn Ukraine aid package, which included the possibility of a quick transfer of long-range ATACMS missiles to Ukraine. It is set to bolster Ukraine's defense capabilities and economic resilience amid escalating Russian attacks.
It was earlier reported by the Washington Post, citing US officials, that it will take less than a week for the Pentagon “to deliver some weapons to Ukrainian units who have been forced to ration artillery and air defense rounds.”
The bill provides for the allocation of almost $28 billion for all operations related to US military assistance to Ukraine. Nearly $13.8 billion will be directed by September 30, 2025, to the Ukraine Security Assistance Initiative program, under which the Pentagon signs contracts with American defense companies to provide Kyiv with new weapons and equipment.
Over $13.4 billion more can be directed to replace and repair weapons transferred to Ukraine, as well as to finance the training. The bill allocates $1.6 billion under the Foreign Military Financing program, which provides grants for the purchase of weapons from manufacturers.
A separate provision of the bill stipulates that the Biden administration must transfer long-range ATACMS missiles to Ukraine "as soon as possible."
As for economic assistance, the bill provides for the allocation of $7.85 billion in loans by September 30, 2025. After November 2025, the US President will be able to write off 50% of the debt on these loans, and from January 1, 2026 - 100% of the debt on condition that this decision is supported by Congress.
Within 30 days after adoption, the administration must provide Congress with a report on all weapons and related funding that the United States has provided to Ukraine since February 24, 2022. And within 60 days, a report on how the control over the accounting of weapons was carried out.
In addition, within 45 days, the U.S. Congress must receive a strategy for “supporting Ukraine” from the Biden administration, which should be multi-year and contain a list of "specific goals" that the administration seeks to achieve.
The US House has also passed a bill that would allow seizure of Russian assets for Ukraine, which would allow the President to confiscate Russian sovereign assets and transfer them to Ukraine to aid in its reconstruction efforts.
The bill must still be passed by the Senate and signed by President Biden.
