Biden Admin Provides $20 Billion Loan To Ukraine After House Blocked New Aid

The Biden administration announced earlier this week a loan of $20 billion to Ukraine, financed by proceeds from frozen Russian assets, just weeks before President-elect Donald Trump, who has talked about ending financial aid to the country as well as the fighting, takes office.

Reports said that the funding is part of a larger $50 billion G7 support package and arrives just over a month before President Joe Biden leaves the White House.

These loan funds come at a critical time for Kyiv, as President-elect Donald Trump has already expressed a desire for an immediate settlement between the two parties instead of continuing to fund what he describes as an endless war, Breitbart News reported.

Trump has increasingly questioned the financial support provided to Ukraine following Russia’s 2022 invasion, stating as recently as last weekend that he will “probably” reduce aid to Kyiv.

“These funds — paid for by the windfall proceeds earned from Russia’s own immobilized assets — will provide Ukraine a critical infusion of support as it defends its country against an unprovoked war of aggression,” U.S. Treasury Secretary Janet Yellen said in a statement.

The G7’s loans “will help ensure Ukraine has the resources it needs to sustain emergency services, hospitals and other foundations of its brave resistance,” Yellen added, per an AFP report.

The loan comes just days after Trump met with Ukrainian President Volodymyr Zelenskyy in Paris, France, alongside French President Emmanuel Macron during the reopening of the Notre Dame Cathedral five years after it was ravaged by fire.

The support “will strengthen Ukraine’s defense and help protect our sovereignty and people against unprovoked aggression,” Zelenskyy said in a statement.

The Treasury stated that Washington had already transferred $20 billion to the World Bank, which will make these funds available to Ukraine through an existing program. The additional funds will almost assuredly prolong the conflict at a time when the incoming administration will hit the ground next month with a plan to end the nearly two-year-old war that has reportedly killed hundreds of thousands of soldiers and civilians.

Trump’s ending support to Ukraine, meanwhile, was popular on the campaign trail, especially as Americans continued to suffer from open borders and lack of emergency assistance following natural disasters like Hurricanes Helene and Milton.

Earlier in the week before the Biden administration made the loan, House Speaker Mike Johnson stated that no additional aid should be provided to Ukraine before Trump’s inauguration.

Johnson emphasized that Trump, once he assumes the presidency in January, should make the decision to allocate further aid to Ukraine.

“As we predicted and as I said to all of you weeks before the election, if Donald Trump is elected, it will change the dynamic of the Russian war on Ukraine, and we’re seeing that happen,” the Louisiana leader of the House said during a House Republican leadership press conference.

He stated that Trump’s electoral victory will alter the dynamic of the ongoing conflict between Russia and Ukraine.

Advertisement
“So it is not the place of Joe Biden to make that decision now. We have a newly elected president, and we’re going to wait and take the new commander-in-chief’s direction on all that, so I don’t expect any Ukraine funding to come up now,” Johnson added.

The Biden administration requested $8 billion in security assistance for Ukraine, which includes military equipment, funding for training its armed forces, and additional support. The Department of Defense (DOD) requested an additional $16 billion to provide Ukraine with more resources.

In September, Trump said he would work to end the war in Ukraine even before he takes office.

“I want to get Russia to settle up with Ukraine and stop this — millions of people being killed, far greater than the number you read about. But I want to get that done before I even take office, I want to get that done as president-elect, because it has to be solved — too many people dying, too many cities are just in rubble right now, you look at the cultures just being destroyed,” he said at the time.

Related Posts

Federal Crackdown Intensifies

In a significant demonstration of the federal government’s unwavering commitment to border security,multiple enforcement actions have recently culminated in arrests and convictions across Texas. These operations underscore…

A West Virginia man confessed to authorities after allegedly beating his pregnant girlfriend and leaving her in the woods.— full details below👇 Have a great time, everyone! 🌞🌳

A West Virginia man allegedly confessed to beating his pregnant girlfriend “until she quit breathing” in a phone call to 911 — and sheriff’s deputies only realized…

A North Carolina teenager who lost his foot in a tree removal accident quickly found himself recovering in the same building as the man who helped save him.— (Full Details Below👇) Have a great time, everyone!

18-year-old Bryson Wilkinson from North Carolina was working a shift at a tree removal company when he got caught in a rope and ultimately lost his foot…

FACE PIMPLE REMOVE

FACE PIMPLE REMOVE   Acne, also known as acne vulgaris, is a long-term skin condition that occurs when dead skin cells and oil from the skin clog…

A 3-year-old boy was found 1 hour ago by his stepfather… See more

The child’s grandmother alerted the authorities after noticing the injuries. The mother initially denied the abuse, attributing the injuries to a fall. Despite this, the stepfather was…

HEARTBREAKING NEWS: 15 Minutes Ago at Mar-a-Lago, Florida — Vivian Jenna Wilson Issues Urgent Announcement About Her Grandmother, Maye Musk, 77

HEARTBREAKING NEWS: 15 minutes ago at Mar-a-Lago, Florida, Vivian Jenna Wilson made an urgent announcement to her followers that her grandmother, 77-year-old Maye Musk, is currently…In an…

Leave a Reply

Your email address will not be published. Required fields are marked *