Speaker of the US House of Representatives, Mike Johnson, announced on Sunday that he will submit for consideration a bill with more than $60 billion in aid to Ukraine after the Easter recess, which ends on April 9.
However, the package may include “some important innovations,” among which Johnson mentioned the credit terms and the possibility of using frozen Russian assets to finance Ukraine’s recovery.
According to Politico, the appropriate legislation may be approved, allowing the Biden administration to confiscate around $5 billion to $8 billion in Russian sovereign assets under US jurisdiction.
The White House has ensured that the bill already approved by the Senate has every chance of gaining bipartisan support in the House of Representatives as well, commenting on Johnson’s proposal for “innovations.”
Kyiv is waiting for any form of US aid to Ukraine
Meanwhile, the Ukrainian parliamentarians in the Verkhovna Rada are currently declining to officially comment on the specifics of the American aid package to Ukraine, such as the time frame and credit terms of its provision, including how it will impact the Ukrainian economy in the short- and long-term, as well as the value of the Ukrainian hryvnia.
“Johnson himself does not know what this aid package will include, what it will look like and when it will be approved. Therefore, to make any predictions is to point one’s finger at the sky,” one of sources in the Verkhovna Rada told Kyiv Post.
Ukrainian Aid Bill of $61 Billion Passes in US House, Senate to Vote Tuesday
Another anonymous source within one of the key Ukrainian parliament committees confirmed that Kyiv will accept American aid, even on credit terms, as they have no other option.
“If it is a loan – we will still take [$60 billion from the United States]. Is it a worse option? Definitely. Will we be able to pay off this loan? It does not matter now. We will still take [it] because we have no choice,” said the Kyiv Post source.
Regarding the use of Russian assets frozen within the United States for assistance to Ukraine, the source said that “there are few Russian assets frozen within the United States that could benefit Ukraine significantly.”
Current economic situation in Ukraine
Danylo Hetmantsev, the Head of the Verkhovna Rada Committee on Finance, Tax and Customs Policy, reported last week that Ukraine’s national debt had increased by over 50 billion dollars during the two years of the full-scale war.
According to him, as of Feb. 29 the total amount of debt reached $143.7 billion, mainly due to the attraction of external official soft loans.
And €50 billion ($53.9 billion) EU aid is among the biggest “soft loans” that Ukraine will have to return over the next 20 years. According to Roksolana Pidlasa, head of the budget committee of Ukraine’s parliament, the main body of this amount will be provided in the form of loans.
“... The EU provides us with non-refundable aid [grants] to cover interest on the loans. So, the money is free for use, but will have to be returned,” Pidlasa said, confirming that Kyiv will return all the €50 billion aid.
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Comments (5)
If Moscow Mike Johnson and his Trump loving-cronies are only willing to extend a loan now, then go with it. The American voters will take care of them in November, and the loan will be forgiven. Most Americans still understand Russia is the enemy, even if they don’t -or can’t- fully grasp the severity of what’s going on in Ukraine.
@Mark Rockford, Funny! And the loan will be forgiven LoL
Ukraine should take the money. The US is so screwed up they’ll never ask for the money back. Or the next administration can forgive the loan.
‘Having no choice’ oh wow so grateful
@Depau, Ukrainians are literally fighting for their lives and their freedom from the Putin dictatorship right now, and have been for over 25 months now - with the last US Congressional assistance passed over 15 months ago in December 2022. Maybe they deserve a little understanding, given they are being bombed, murdered, raped, tortured, imprisoned, abducted and looted, and their homes, farms, factories, shops, schools and hospitals are being destroyed, on a daily basis? How would you regard a firefighter who stood back and refused to help a trapped victim of a blaze unless they were fully satisfied with the 'gratitude' they were receiving?
@Michael, as you look back through "@Depau's" postings you will see his favourite things are to insult Ukraine, KyicPost authors and also Ukraine's supporters. So what does that tell us about its purpose here.
It does not add much in the way of content, probably as anything a MRGA troll could say has already been widely debunked.
@John, I am a bit dissapointed by your comment. I ask you to point one comment where I insulted Ukraine, Sir. You see, that's exactly your problem - anyone that has even marginally different opinion than you is being labelled as a troll, communist, nazi. I really hope you are equally shocked and condemn Israeli's invasion of Palestine. I really hope you have equally clear stance on every conflict in the world, that you don't question the motives of the other side. I am not a troll but I hate people that can't and don't want to see things from the different perspective
@Depau
A few past quotes from @ MRGA troll Depau regarding Ukrainians:
"‘Having no choice’ oh wow so grateful. (regarding possible US Aid Loan)
"They were not that clever back in 2014 when they lost Crimea without a fight"
"John, maybe you should consider changing your career and try your strength in Ukrainian battlefield."
I don't have time right now to hunt for more, but maybe instead you could provide some good comments about Ukraine and its supporters?
@Depau, FUCK OFF BACK TO RUSSIA . YOU ARE A DISGRACE TO HUMANKIND.
@db, Talking to a mirror, idiot?
@db, you are quite the piece of shit and always yelling, such anger bad for you
Take the $$ in any form it is offered! For public show, it should be argued and look like a anchor for Ukraine but the reality is it will never have to be paid back! Its finally looking like something significant it terms of firepower for Ukraine is going to happen! Hopefully its in time to deliver a shock and awe to the invading pigs!
If the US$60 billion aid package comes in the form of a 'loan', then Ukraine should grab it immediately and not even think about needing to pay back one single dollar, because they won't have to.
This is clearly a stunt by Johnson directed toward the pro-Putin wing of the Republican party to whom he can publicly say "I didn't give any money to Ukraine."
It is a 100 percent certainty that the money (along with the European loans) will be paid back either through seized Russian funds, or the loan will be 'forgiven' by the US Congress after the blue wave this November turns the House back over to the Democrats. Option three will be at an upcoming G-7 summit where those countries will announce Ukrainian loan forgiveness.
Take the money and run, Ukraine. Political gymnastics in the coming months will pay for it. It is an absolute certainty.