US President Joe Biden announced his signature on Thursday Request for $33 billion in supplemental funding For Ukraine from Congress as the Russian invasion takes a new and decisive stage.
The funding request is expected to support Ukraine during this fiscal year, or about five months, and include $20.4 billion in military aid.
Biden coined the massive demand as crucial to global stability.
He called on Congress to approve the funding “as soon as possible.”
Repeating that he would not send US troops to Ukraine, he said the US was “not attacking Russia,” but instead “helping Ukraine defend itself against Russian aggression,” and blamed Russian President Vladimir Putin.
“Russia is the aggressor, not if that is the case, or otherwise. Russia is the aggressor, and the world must and will hold Russia accountable.”
Biden reviewed some of the items in his $33 billion request, including:
- $20.4 billion needed for military and security assistance
- $8.5 billion in economic aid to the Ukrainian government and people
- $3 billion will be earmarked for additional humanitarian assistance and food security funding, and funding targeted to address economic disruption
He also detailed proposed new legislation to hold Russian oligarchs accountable.
While members agreed that more money should be made available to Ukraine, it remains unclear how quickly the complementary instrument will move through Congress, nor is it clear how quickly this proposal on the oligarchy could move. A possible path might be to tie these two legislation together, but Republican and Democratic leaders are in the early stages of talks about how to pass the broader funding to Ukraine.
The President also responded to news earlier this week that Russia has stopped gas supplies to Poland and Bulgaria After both countries refused to pay in rubles, which led to further uncertainty in the already unstable and war-shaken global oil markets.
“Let me be clear, we will not allow Russia to intimidate or blackmail its way out of these sanctions. We will not allow them to use their oil and gas to avoid the consequences. We are working with other countries such as Korea, Japan, Qatar and others to support our efforts to help European allies that Russia threaten to blackmail gas needs and of energy in other ways.
Read more about the proposal here.