Biden: More $33 billion of American Investments in the Armament of Ukraine

by Olha Povaliaieva
Thursday, April 28, 2022
Biden: More $33 billion of American Investments in the Armament of Ukraine

The United States also adopted a law on the transfer of frozen assets of Russian citizens for the restoration of Ukraine and the fulfillment of its needs

On April 28, US president Joe Biden gave a press conference at which he announced a new package of investments in Ukraine. In particular, Biden plans to submit $33 billion to Ukraine for consideration by Congress. Of this amount, $20 billion is designed to arm the country, $8.5 to restore the economic stability of our state.

The arms package will include the transfer to Ukraine directly and through European partners of artillery, armored vehicles, anti-tank and anti-aircraft installations. The same kit includes an increase in cyber potential, modern anti-tank defense systems, and systems for clearing mines and other explosive devices.

$8.5 is humanitarian aid. The money will be used to replenish the social guarantees of Ukrainians: housing, food, and medical care. Part of this tranche will be used to combat Russian propaganda and disinformation.

Also, part of the total amount has already been allocated to support agricultural enterprises. Small and medium businesses will be provided with everything necessary for harvesting and buying gas.

Biden also announced the adoption of the Asset Seizure for Ukraine Reconstruction Act, which, regardless of Russia's desire to compensate for the damage caused to Ukraine, will partially compensate for it. In accordance with the law, all sanctioned assets of Russian oligarchs will be redirected to help Ukraine. These funds will be distributed to restore the destroyed infrastructure, as well as to provide Ukrainians with humanitarian assistance and reimbursement of social guarantees. Part of the money will be redirected to the maintenance of refugees from Ukraine who are in other countries.

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