US President Joe Biden, in a speech about the latest $800M US military aid package for Ukraine, said that the US is sending weapons "directly to the front lines of freedom", reported Reuters on Thursday. "We are in a critical window as Russia sets the stage for the next phase of war," Biden said, noting that the latest aid package includes heavy artillery, drones, dozens of howitzers and ammunition.
Moreover, the US is sharing timely intelligence with Ukraine, Biden stated, calling the battle of Kyiv a "historic victory" for the Ukrainians, though noting that now is the time to accelerate assistance. The new package will ensure a steady flow of weapons into Ukraine over the next few weeks, Biden said, though he warned that he had almost exhausted the "draw down" authority Congress had given to him, noting he will be asking Congress for more.
In order to sustain Ukraine for the duration of the fight, Biden said he would be asking Congress for more money next week. Biden also said that the US would be providing $500M in direct aid to the Ukrainian government and that the US will ban all Russia-affiliated ships from US ports.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.