The Biden administration lends Ukraine $20 billion after the 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.

“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

Good News! Doctors have officially certified that Princess Kate Middleton’s tumor has been entirely healed thanks to a unique treatment regimen. Prince William is overjoyed, proclaiming, “Thank God, we have finally succeeded!”

In a moment of immense relief and joy, the royal family has received extraordinary news. Doctors have officially confirmed that Princess Kate Middleton’s tumor has been completely…

Trump Plans to Change ‘Gulf of Mexico’ to ‘Gulf of America’

President-elect Donald Trump announced on Tuesday his plans to change the name of the “Gulf of Mexico” to the “Gulf of America.” “We are going be changing…

At least 13 people died and 28 were injured after a bus carrying tourists plunged down a 160-foot gorge.

According to Colombia’s Minister of Transport, María Constanza García Alicastro, the tragic accident happened in the municipality of Tangua on a “road that connects Pasto with Ipiales”…

Supreme Court Rejects Challenge to Biden Administration’s Coal Waste Rule

The Supreme Court has refused to block a Biden administration rule aimed at preventing legacy toxic waste from closed coal plants from seeping into and contaminating nearby…

Father Finds Missing Daughter’s Bag and Finally Knows Where to Search

Derek is desperately searching for his daughter, Amber, who disappeared a week ago. The police find no clues, but an unexpected encounter with a homeless person holding…

Understanding The Function of Your Vehicle’s Air Recirculation Button

Contemporary automobiles are furnished with a myriad of buttons and symbols, each performing a specific task within the intricate machinery that propels us onward. Amidst this labyrinth…

Leave a Reply

Your email address will not be published.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