More than 6 billion dollars for Ukraine may "burn" in September. Biden addressed Congress
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Economics
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More than 6 billion dollars for Ukraine may "burn" in September. Biden addressed Congress

Biden
Source:  Reuters

US leader Joe Biden's team has begun emergency talks with Congress to allow it to use more than $6 billion in military aid to Ukraine by September 30.

Points of attention

  • Biden is trying to save more than $6 billion in military aid for Ukraine by September 30.
  • States are considering a backup plan to use the funds before the program expires.
  • The flow of weapons to Ukraine from the US slowed down significantly in 2024.

Biden is trying to save money for Ukraine

Journalists learned that most of the $7.8 billion provided for Ukraine by the draft law that Biden signed in April was not used.

Currently, the White House is doing everything possible to save the remaining $6 billion.

It is important to understand that the deadline for their use is approaching — September 30, that is, the end of the 2024 fiscal year. That's when all this money can simply burn.

According to insiders, the US State Department intends to include the extension of authority in the Continuing Resolution, a short-term emergency spending bill that the Senate and House of Representatives must pass this month to avoid a shutdown on September 30.

Several anonymous journalist sources are convinced that a solution will be found, given the strong bipartisan support for aid to Ukraine.

Why did the USA have problems with the supply of weapons to Ukraine

Representatives of Congress do not deny the fact that the flow of weapons to Ukraine really slowed down in 2024.

One of the key reasons is that the Pentagon's own stockpiles have begun to rapidly deplete as the arms industry grapples with supply chain problems.

Legislators who support Ukraine from both parties emphasized the importance of continued support.

While negotiations with Congress continue, the administration is considering a backup plan that would have the State Department make a substantial aid announcement by Sept. 30, effectively spending the remaining $6 billion before the program expires.

According to insiders, the terms of delivery of weapons and equipment will be extended, and this will open the possibility of a more gradual transfer of resources to Ukraine.

Other anonymous sources add that there is currently another resource available: about $3 billion allocated under PDA authority as a result of the Pentagon's accounting error remains available for aid to Ukraine.

What is important to understand is that these powers do not expire.

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