U.S. Will Provide $500m In Direct Budgetary Aid To Ukraine

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President Biden spoke with President Vladimir Putin today to make clear that if Russia further invades Ukraine, the U.S. and our allies will impose swift and severe costs on Russia.

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President Biden has warned Putin that the U.S. and its allies are willing to impose swift and severe costs on Russia.

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President Joe Biden told Ukrainian President Volodymyr Zelenskyy that the United States plans to provide his government with $500 million in direct budgetary aid, according to a White House readout of Biden’s secure call with the Ukrainian leader.

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In the world of international assistance, direct budgetary aid is relatively rare. More often nation-to-nation aid comes in the form of already paid-for things, like food or weapons or subject matter experts, and monetary loans. Direct budgetary aid, on the other hand, generally comes with few strings attached, the closest thing to a cash gift from one government to another.

The monthlong Russian invasion of Ukraine has severely hampered Kyiv’s ability to collect tax revenue and remain operational, making this kind of cash aid especially important.

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Congress recently approved a separate, more than $13 billion package of supplemental aid for Ukraine. But nearly all of that money is already committed to specific things, like refugee housing, defensive arms and medical supplies.

Credit: CNBC

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