Biden proposes $33 billion package to aid war-torn Ukraine amid sharp fall in US' GDP

As Russian President Vladimir Putin further escalated the war against Ukraine, US President Joe Biden proposed a huge $33 billion package to support the war-torn country. While speaking at the White House on Thursday, Biden conceded that the continuous support to Ukraine has been affecting America but added he has no other options.

Notably, the announcement came on the day when the country's gross domestic product registered a sharp annual rate fall of 1.4%. According to reports, the fall was registered mainly due to disruptions in supply chain management. Despite a major fall, POTUS Biden has proposed a hefty aid for the Ukrainians.

"The expanses of the battle are not cheap, but, it is significant to fight the Russian aggression. If we left Ukraine, it will be more costly," he said.

However, several economists believe that the Biden administration has kept the situation under control and speculated that the growth will start in the second quarter of 2022 as soon as the spending of businesses and consumers starts to rise.

Meanwhile, ignoring the current situation in the US, Biden said he has provided enough support to Ukraine to fight every Russian tank. He affirmed that the US has already sent several war tanks which are capable to beat Russian aggression. 

"In concert with his supplemental request to Congress to support Ukraine, President Biden 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, the White House said in a statement released on Thursday.

"This package of proposals will establish new authorities for the forfeiture of property linked to Russian kleptocracy, allow the government to use the proceeds to support Ukraine, and further strengthen related law enforcement tools," it said.

While explaining the military support provided to Kyiv, it said that the US has supplied weapons and ammunition – including anti-tank and anti-air systems, helicopters, drones, grenade launchers, and more than 50 million rounds of ammunition since the US Congress approved $3.5 billion in March this year.

Also, it claimed that the country has provided an additional $650 million in military assistance to Ukraine, and other partners in the region, as well as hundreds of millions of dollars in food, shelter, and other humanitarian aid to help Ukrainians who have been displaced due to Russia's war.

Earlier on Thursday, while speaking to the reporters, White House Press Secretary Jen Psaki said that the Biden-Harris administration has decided to continue providing military support to the war-torn country. According to her, the US has given a major amount of funding to Ukraine and added other countries are now also coming forward to assist Ukraine.

Russia-Ukraine war

Russia initiated a full-fledged war against Ukraine nearly two days after Russian President Vladimir Putin signed a decree recognising the independence of breakaway regions Donetsk and Luhansk. Putin's action came despite the West's repetitive warning. On February 24, the Russian troops started a military operation against Ukraine.

Since then, it has been bombarding several cities in Ukraine, resulting in the killing of thousands of civilians. On Friday, Ukrainian President Volodymyr Zelenskyy appealed to his Russian counterpart to end the war immediately but added that he would not let the Russian forces take a single piece of Ukrainian land.

Image: AP