Business news from Ukraine

On Wednesday, U.S. President Joe Biden said that he asked Congress to approve his request for additional financial assistance to Ukraine as soon as possible.
“I just signed a request to Congress for important security, economic, and humanitarian assistance to Ukraine. (…) It is critical this funding gets approved and approved as quickly as possible,” Biden said, speaking at the White House.
He said he acknowledges that such assistance is “not cheap.”
Biden said the U.S. administration needs additional funds to transfer artillery, air defense systems, and armored vehicles to Ukraine.
“This assistance will give Ukraine additional artillery, armored vehicles, anti-tank and anti-air capabilities,” he said.
He said that a request to the U.S. Congress for additional funds for Ukraine should meet both the current defense needs of the Ukrainian military and longer-term security needs.
Biden said the United States and allies have already delivered over 50 million pieces of military equipment to Ukraine, including thousands of anti-tank and anti-aircraft systems, helicopters, drones, grenade launchers and machine guns.
Additional funding to help Ukraine is needed, as the previously allocated funds are almost completely used.
Biden called on Congress to allocate $33 billion to help Ukraine in the defense and humanitarian spheres, as well as to strengthen the defense of European countries, the White House said. This funding is intended for the period until September 2022, the CNBC channel said.
The White House said in the statement that, among other things, some $20.4 billion is expected to be allocated both for military assistance to Ukraine and for “U.S. efforts to strengthen European security in cooperation with our NATO allies and other partners in the region.” This is about the supply of weapons to Ukraine and a number of European countries, artillery, armored vehicles, anti-tank and anti-aircraft weapons. It is also planned to direct this assistance to strengthening the means of protection against cyberattacks, demining territories. At the same time, they plan to send $4 billion to the program of foreign military financing of the U.S. Department of State.
Of the funds requested by Biden, some $ 8.5 billion will be directed to support the Ukrainian economy. These funds are intended to finance the Ukrainian government, help Ukraine in the food, energy and medical fields.
The CNBC television channel, in turn, said, thus, in nine months, the total U.S. spending on Ukraine would exceed $36 billion.
In addition, according to the White House, some $3 billion will be allocated for humanitarian assistance around the world in the form of supplies of wheat and other goods. In addition, they plan to allocate $500 million as assistance to domestic production. This amount is expected to support U.S. production of food crops that are in short supply around the world due to Russia’s aggression against Ukraine.
In addition, Biden decided to ask Congress for approval of a package of laws that will help the administration use the confiscated assets of individuals associated with Russia to provide assistance to Ukraine. The White House said in the statement that the president “will send a proposal for a comprehensive legislative package that will enhance the United States Government’s authority to hold the Russian government and Russian oligarchs accountable for President Putin’s war against Ukraine.” Biden’s proposals, in particular, provide for the use of confiscated assets of persons subject to sanctions.
In parallel, similar measures are being considered in the U.S. Congress. Thus, on Thursday night, the House of Representatives approved a bill that gives the president the opportunity to use some of the assets frozen under sanctions against Russia to provide humanitarian and military assistance to Kyiv. ” The Asset Seizure for Ukraine Reconstruction Act takes an important step in rebuilding the country Russia has destroyed,” Congressman Tom Malinowski, co-author of the document, said on social media.
The New York Times said that 417 congressmen supported the bill, with eight opposed.