USA Approves Foreign Financial Aid
Three financial packages and new sanctions on Iran were voted on separately
After months of extensions, the US House of Representatives approved Saturday night (April 20) three financial aid packages to foreign countries totaling $95 billion that will be converted into weapons, ammunition, and military technology destined for Ukraine, Israel, and Taiwan. Congress voted separately on each of the three proposals submitted by Republican Speaker Mike Johnson.
The bulk of the 95 billion, notably more than 60 billion, will go to help Ukraine, which without US money will not be able to withstand the Russian army’s offensive. Another 26 billion was earmarked for military aid to Israel, and an unspecified portion could be used to help civilians in Gaza. Finally, $8 billion is funding intended to strengthen the military structures of Taiwan and some other “US allies in the Indo-Pacific.”
The proposals will now move to the Senate, where the Democratic majority expects a quick vote – by Tuesday, April 26 – after which the documents will end up on President Joe Biden’s desk for his final signature. The aid proposal for Ukraine provides that the White House will be able to seek $10 billion in reimbursement from the Kiev government for financial aid provided to the country, with a provision, however, that allows the loan to expire starting in 2026. In other words, the decision will have to be made by the new US president due to be elected in November 2024.
In addition to the three multibillion-dollar aid packages, the proposals voted on in the House also include a provision to facilitate the sale of Russian assets frozen since the start of the military operation in Ukraine, which are to be transferred to Kiev to “finance reconstruction after the end of the armed conflict.” There are also new sanctions on Iran and a proposal to obligate Chinese company ByteDance to withdraw from the TikTok platform.
