Biden proposes Ukraine 33 billion package against Russian oligarchs: Report 29Apr 2022

Biden proposes Ukraine 33 billion package against Russian oligarchs

U.S. President Joe Biden on Thursday proposed a massive $ 33 billion package to arm and support Ukraine, saying “boarding” in Russia is not a solution for the West as the war continues for the third month in a row.

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Reflecting the amount of US aid to Ukraine, which is having a negative impact on Russia’s largest and most heavily armed forces, Biden confirmed that the United States has already sent 10 tanks – for every Russian tank sent to the country.

Speaking at the White House, Biden also outlined proposed new laws that would allow Ukraine to use luxury property confiscated from Russian oligarchs as part of unprecedented sanctions to compensate for the Russian damage inflicted by the invaders.

He acknowledged the dramatic cost of US support for Ukraine, but said there was no real alternative to the conflict with Russian President Vladimir Putin.

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“The price of this fight is not cheap. But if we let it happen, it will be more expensive to fall victim to aggression,” he said.

Reflecting the amount of US aid to Ukraine, which is having a negative impact on Russia’s largest and most heavily armed forces, Biden confirmed that the United States has already sent 10 tanks – for every Russian tank sent to the country.

However, he refuted the increasingly hot claims by Russian officials and the state media that Moscow was fighting against the whole of the West, not just Ukraine.

“We are not attacking Russia. We are helping to save Ukraine from Russian aggression,” Biden said.

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Describing the rhetoric in Moscow about the prospect of nuclear war as a sign of “despair,” Biden said: “No one should make meaningless remarks about the use of nuclear weapons or the possibility that they will use them. It is not” responsible. ”

And when Russian state gas giant Gazprom announced it was cutting off supplies to NATO and EU members Bulgaria and Poland, Biden said the United States would “not blackmail or force Russia to escape the sanctions.”

Spokeswoman Jen Psaki told reporters that the White House would involve a “full court press” to get congressional approval, adding that Biden’s decision to announce Ukraine’s package request was a sign of concern.

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He could push Congress even further on Tuesday by visiting the Lockheed Martin plant in Alabama, which produces the anti-tank missile Javelin, one of the main weapons supplied to the Ukrainian military.

In parallel with Western military assistance, which began cautiously with defensive infantry armaments but now includes heavy artillery and armed drones, Washington is imposing economic sanctions aimed at isolating Russia and putting pressure on Putin.

The measures are aimed at Russia’s energy exports, banks, the ruble, as well as the powerful billionaires around Putin.

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A senior US official told reporters that most of the $ 33 billion package offered would be $ 20 billion in military and other security assistance. This means that weapons and ammunition are flowing to the people of Ukraine.

Another $ 8.5 billion in economic aid “will help Ukraine’s government respond to the immediate crisis,” and about $ 3 billion is proposed to fund humanitarian aid and address the global food price shock caused by Russia’s attack on Ukraine, a leading exporter of wheat. . . said the officer.

Congress must approve the request, and although both Republicans and the Baiden Democratic Party have indicated they want to support Ukraine, disputes over Baiden’s demand for an unrelated $ 22.5 billion COVID pandemic package have halted the approval process. Threats to complicate.

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Baiden’s package would also increase legal pressure on oligarchs trying to hide their wealth.

One proposal is to allow the confiscation of second-hand property in order to avoid sanctions. The second is to expand the arsenal used by U.S. prosecutors, to allow money laundering investigations to be extended for more than five to ten years, and to impose sanctions on racketeering laws used to fight organized crime.

Biden announced a proposal to increase pressure to “sell” property confiscated by oligarchs with intensified confiscation and confiscation procedures to “compensate Russia and create Ukraine”.

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To date, EU allies have amassed more than $ 30 billion in Russian assets, including nearly $ 7 billion worth of luxury goods owned by oligarchs, including yachts, art, real estate and helicopters, the White House said.

The statement added that the United States had “sanctioned and intercepted ships and aircraft worth more than $ 1 billion, as well as hundreds of millions of dollars in American accounts owned by the Russian elite.”

Biden proposes Ukraine 33 billion package against Russian oligarchs

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(Except for the headline, this story has not been edited by News East India staff and is published from a syndicated feed.)