President Joe Biden has announced a significant military aid package for Ukraine totaling over $8 billion. According to Reuters, the announcement was made on Thursday during a visit by President Volodymyr Zelenskyy.
What Happened: The aid includes the first shipment of a precision-guided glide bomb known as the Joint Standoff Weapon, which has a range of up to 81 miles (130 km). This medium-range missile will allow Ukraine to strike Russian forces from safer distances, Reuters reported on Thursday.
However, Biden emphasized that the U.S. will not permit Ukraine to use American missiles to target deeper into Russia. Supporting Ukraine has been a top priority for the U.S. since Russia’s invasion in February 2022, Biden noted.
The majority of the new aid, $5.5 billion, is to be allocated before the end of the U.S. fiscal year on Monday. An additional $2.4 billion will be provided under the Ukraine Security Assistance Initiative, which allows the purchase of weapons from companies rather than U.S. stocks.
This initiative will bolster Ukraine’s air defense, unmanned aerial systems, and air-to-ground munitions, and strengthen its defense industrial base. Biden also announced plans to refurbish and provide an additional Patriot air defense battery and more Patriot missiles to Ukraine.
Furthermore, the Pentagon will expand training for Ukrainian F-16 pilots, supporting the training of an additional 18 pilots next year.
Biden also mentioned efforts to disrupt a global cryptocurrency network to combat Russian sanctions evasion and money laundering. He plans to convene a leader-level meeting of the Ukraine Defense Contact Group in Germany next month to coordinate international support for Ukraine.
Why It Matters: The announcement comes amid heightened tensions and calls for decisive action from Western leaders. Zelenskyy recently urged the West to take stronger measures to force Russia into peace, stating that the conflict cannot be resolved through dialogue alone. Zelenskyy made these remarks at the United Nations Security Council, emphasizing the need for concrete action.
In contrast, former President Donald Trump criticized Zelenskyy for not negotiating peace and accused him of wasting U.S. funds. Trump expressed his frustration after a canceled meeting with Zelenskyy, accusing the Ukrainian president of making “nasty little dispersions” toward him. Trump also highlighted his positive relationship with Russian President Vladimir Putin.
"We continue to give billions of dollars to a man who refuses to make a deal," Trump said.
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Image via White House
This story was generated using Benzinga Neuro and edited by Pooja Rajkumari
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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