Berliner Boersenzeitung - US approves $40 bn for Ukraine as Biden rallies behind NATO bids

EUR -
AED 4.103904
AFN 76.480063
ALL 99.081454
AMD 432.90015
ANG 2.013888
AOA 1050.381473
ARS 1080.709609
AUD 1.622435
AWG 2.013944
AZN 1.899723
BAM 1.959371
BBD 2.256232
BDT 133.530959
BGN 1.955297
BHD 0.421153
BIF 3240.434417
BMD 1.117306
BND 1.43593
BOB 7.721209
BRL 6.076135
BSD 1.117446
BTN 93.53283
BWP 14.616769
BYN 3.656396
BYR 21899.201426
BZD 2.252445
CAD 1.506296
CDF 3201.082384
CHF 0.945789
CLF 0.036682
CLP 1012.169856
CNY 7.832204
CNH 7.799764
COP 4655.256262
CRC 586.674415
CUC 1.117306
CUP 29.608614
CVE 110.464334
CZK 25.140956
DJF 198.567519
DKK 7.456947
DOP 67.203073
DZD 147.886879
EGP 54.050918
ERN 16.759593
ETB 133.512806
FJD 2.443882
FKP 0.850895
GBP 0.833477
GEL 3.044671
GGP 0.850895
GHS 17.629444
GIP 0.850895
GMD 76.535827
GNF 9650.414312
GTQ 8.637819
GYD 233.790248
HKD 8.691922
HNL 27.759838
HRK 7.596577
HTG 147.610328
HUF 396.118791
IDR 16909.311958
ILS 4.122921
IMP 0.850895
INR 93.437356
IQD 1463.8809
IRR 47044.176983
ISK 150.69072
JEP 0.850895
JMD 175.446596
JOD 0.791836
JPY 162.082032
KES 144.132373
KGS 94.078358
KHR 4540.314973
KMF 493.98898
KPW 1005.574942
KRW 1472.732899
KWD 0.341013
KYD 0.931205
KZT 535.214964
LAK 24675.410525
LBP 100068.257103
LKR 334.953422
LRD 216.787016
LSL 19.214889
LTL 3.299115
LVL 0.675848
LYD 5.289545
MAD 10.808094
MDL 19.46064
MGA 5056.305194
MKD 61.503598
MMK 3628.966939
MNT 3796.606401
MOP 8.9548
MRU 44.207961
MUR 51.16169
MVR 17.150954
MWK 1937.665915
MXN 21.932732
MYR 4.60774
MZN 71.395349
NAD 19.214889
NGN 1847.351835
NIO 41.125684
NOK 11.787212
NPR 149.651066
NZD 1.766774
OMR 0.430093
PAB 1.117456
PEN 4.191676
PGK 4.441133
PHP 62.440644
PKR 310.3149
PLN 4.274467
PYG 8727.905864
QAR 4.072986
RON 4.975032
RSD 117.073555
RUB 103.479795
RWF 1510.366031
SAR 4.19088
SBD 9.276677
SCR 15.032231
SDG 672.059324
SEK 11.318636
SGD 1.434884
SHP 0.850895
SLE 25.527433
SLL 23429.346515
SOS 638.669637
SRD 34.126442
STD 23125.982409
SVC 9.777644
SYP 2807.265263
SZL 19.206174
THB 36.220806
TJS 11.884171
TMT 3.921745
TND 3.397121
TOP 2.616844
TRY 38.193202
TTD 7.584959
TWD 35.429221
TZS 3057.909535
UAH 46.004416
UGX 4126.557232
USD 1.117306
UYU 47.235237
UZS 14256.108134
VEF 4047500.389233
VES 41.12206
VND 27513.665057
VUV 132.648836
WST 3.125623
XAF 657.160501
XAG 0.035035
XAU 0.000418
XCD 3.019575
XDR 0.826714
XOF 657.142824
XPF 119.331742
YER 279.717582
ZAR 19.248616
ZMK 10057.092325
ZMW 29.417137
ZWL 359.772139
  • RBGPF

    0.9600

    61.76

    +1.55%

  • CMSD

    0.0450

    25.11

    +0.18%

  • CMSC

    0.0200

    25.11

    +0.08%

  • JRI

    0.0700

    13.46

    +0.52%

  • NGG

    -0.0400

    70.06

    -0.06%

  • RYCEF

    0.0300

    7.1

    +0.42%

  • BCC

    2.2400

    140.31

    +1.6%

  • RELX

    -0.2800

    48.09

    -0.58%

  • BCE

    -0.0700

    34.83

    -0.2%

  • SCS

    0.3300

    13.21

    +2.5%

  • RIO

    3.0800

    70.75

    +4.35%

  • GSK

    0.3400

    40.9

    +0.83%

  • AZN

    0.6400

    78.18

    +0.82%

  • VOD

    -0.0200

    10.04

    -0.2%

  • BP

    -0.8900

    30.79

    -2.89%

  • BTI

    -0.1400

    37.82

    -0.37%

US approves $40 bn for Ukraine as Biden rallies behind NATO bids
US approves $40 bn for Ukraine as Biden rallies behind NATO bids / Photo: SERGEY BOBOK - AFP

US approves $40 bn for Ukraine as Biden rallies behind NATO bids

The US Congress on Thursday approved a gargantuan $40 billion aid package for Ukraine to help fight Russia's invasion as President Joe Biden rallied behind the historic NATO membership bids of Sweden and Finland.

Text size:

With unusually bipartisan support, the Senate voted 86-11 to pass the package -- the equivalent of the 2020 GDP of Cameroon -- after one senator briefly held up the vote, voicing alarm on the costs.

"Aid for Ukraine goes far beyond charity," Senate Minority Leader Mitch McConnell said.

"The future of American security and core strategic interests will be shaped by the outcome of this fight," he said ahead of the vote.

The bundle includes $6 billion earmarked for Ukraine to boost its armored vehicle inventory and air defense system.

Nearly $9 billion is set aside to help Ukraine ensure "continuity of government" as well as humanitarian aid.

- Funds running out -

Congress already approved almost $14 billion for Ukraine in mid-March, weeks after Russian President Vladimir Putin stunned the world with his invasion, but most has been spent.

As Russian forces have given up on seizing Kyiv but have stepped up fighting in eastern and southern Ukraine, Biden has been calling for another round of financial support.

The House of Representatives had approved the $40 billion package last week but Rand Paul, like McConnell a Republican from Kentucky, prevented a quick vote in the Senate.

Paul, who opposes US interventionism, voiced concern about the cost and said that lawmakers should have been clearer on how to pay for the package and on monitoring where the money goes.

But Senator Lindsey Graham, a hawkish Republican who has previously called for the Russian president to be assassinated, said: "When it comes to Putin, either we pay now or we pay later."

Shortly after the vote, Secretary of State Antony Blinken released another $100 million in previously approved funding for Ukraine.

The funding will include 18 new howitzers and some counter-artillery radar, Pentagon spokesman John Kirby said.

The United States tried for weeks to dissuade Russia from invading Ukraine and has responded with a sweeping pressure campaign, including sanctions targeting Putin.

In a rare resumption of dialogue, the top US and Russian generals, Mark Milley and Valery Gerasimov, spoke by telephone Thursday for the first time since the invasion, the Pentagon said.

- Rallying behind NATO -

Biden has cast the Ukraine war as part of a US-led great struggle of democracy against authoritarianism.

At the White House, he offered a red-carpet welcome to the leaders of Finland and Sweden days after they applied for NATO membership in the wake of Russia's invasion.

"The bottom line is simple. Quite straightforward: Finland and Sweden make NATO stronger," Biden said, offering the "full, total, complete backing of the United States of America."

"Sweden and Finland have strong democratic institutions, strong militaries and strong and transparent economies, and a strong moral sense of what is right," Biden said alongside Swedish Prime Minister Magdalena Andersson and Finnish President Sauli Niinisto in the White House Rose Garden.

"They meet every NATO requirement, and then some," Biden told assembled reporters without taking any questions.

Sweden and Finland have historically kept a distance from NATO as part of longstanding policies aimed at avoiding angering Russia but they shifted amid shock over the invasion of Ukraine, which has sought unsuccessfully to join the alliance.

Drawing an implicit contrast to his predecessor Donald Trump, Biden called NATO's mutual defense promise -- that an attack on one is an attack on all -- a "sacred commitment."

"We will never fail in our pledge to defend every single inch of NATO territory," Biden said, promising as well to defend Finland and Sweden while their applications are pending.

As with military funding, support for the two Nordic nations' membership is strong in the US Senate, which needs to ratify any move involving treaties.

But all 30 existing members need to consent to adding another nation and Turkey has voiced misgivings due to the presence in Sweden and Finland of Kurdish militants.

Addressing Turkey, Niinisto said Finland opposes "terrorism" and is "open to discussing all the concerns that you may have."

(K.Lüdke--BBZ)