The proposal presented today – which the White House wants to serve to support Ukraine’s needs for five months – includes more than $ 20 billion (about € 19 billion) in military aid to Kiev and to strengthen the defense of neighboring countries.
The initiative also includes $ 8.5 billion (about € 8 billion) in financial assistance to support the government of Ukrainian President Volodymyr Zelensk, as well as $ 3 billion (about $ 2.8 billion) in food and humanitarian programs to help civilians. including more than five million refugees.
The aid package, which is now being voted on in Congress, is more than double the $ 13.6 billion (about € 12.9 billion) originally planned for Ukraine’s defense and financial aid.
The purpose of the White House is to show that the United States has not used its efforts to help Ukraine resist Russian invasion.
“The price of this fight is not cheap, but surrendering to aggression will be more expensive. It is important that this funding is approved as soon as possible,” Biden said.
There has been widespread mutual support in the U.S. Congress to help Ukraine resist Russia’s invasion, and acceptance of this aid package looks certain.
However, Biden and Democrats also want congressmen to approve a package to combat the covid-19 pandemic, which could lead a Republican minority to oppose White House political goals.
Biden also asked Congress today for new powers to seize and redirect the property of Russian oligarchs.
The proposal put forward contains a number of proposals to speed up and centralize the application of sanctions against Russia’s “clepocracy,” referring to Russian President Vladimir Putin’s close partners.
According to Biden’s proposal, the Ministries of Justice, Finance and Foreign Affairs will work together to compensate the damage done to Ukraine with funds confiscated from Russian citizens as part of sanctions imposed for violations of war, anti-corruption and export controls.
The White House also called on Congress to create a special administrative authority to seize the property of the oligarchs, to allow their donations to Ukraine. It also proposed the creation of new sanctions that would make it illegal to hold money obtained from “corrupt government officials.” In Russia.
According to the World Bank, the war in Ukraine has already caused more than 50 billion euros in damage to buildings and infrastructure, and the International Monetary Fund predicts Ukraine’s economy will shrink by 35 percent this year and next.