Dec 30, 2024 - Business

U.S. sending $5.9 billion in aid for Ukraine ahead of Trump inauguration

Rebecca Falconer

President Joe Biden and Ukraine President Volodymyr Zelenskyy shake hands at the Ukraine Compact meeting during the 75th NATO Summit in the Walter E. Washington Convention Center in Washington, DC, on July 11, 2024. — President Biden and Ukrainian President Volodymyr Zelensky in Washington, D.C., in July. Photo: Beata Zawrzel/NurPhoto via Getty Images

The U.S. is sending Ukraine $5.9 billion in military aid and budget support, the Biden administration announced on Monday.

Why it matters: It's part of President Biden's pledge for a "surge" in aid for Kyiv before he's succeeded by President-elect Trump, who's criticized the U.S. givingUkraine military assistance.

"At my direction, the United States will continue to work relentlessly to strengthen Ukraine's position in this war over the remainder of my time in office," Biden said in a statement announcing $2.5 billion in security assistance for Kyiv on Monday.

Driving the news: The aid will include an additional $1.25 billion drawdown package for the Ukrainian military and a $1.22 billion Ukraine Security Assistance Initiative (USAI) package, per Biden's statement.

Elsewhere, Treasury Secretary Janet Yellen announced the U.S. has made available $3.4 billion in direct budget support for Ukraine, in coordination with the U.S. Agency for International Development and the State Department.

What he's saying: "I've directed my Administration to continue surging as much assistance to Ukraine as quickly as possible — including drawing down older U.S. equipment for Ukraine, rapidly delivering it to the battlefield, and then revitalizing the U.S. defense industrial base to modernize and replenish our stockpiles with new weapons," Biden said in his statement.

Go deeper: Biden pledges more U.S. arms to Ukraine after Russia's Christmas attack

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U.S. sending $5.9 billion in aid for Ukraine ahead of Trump inauguration

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