Benzinga - by Benzinga Neuro, Benzinga Staff Writer.
The U.S. Congress has finally approved a comprehensive foreign aid package, totaling $95 billion, for Ukraine, Israel, and Taiwan, in a move to counter Russia’s ongoing invasion of Ukraine.
What Happened: The Senate passed four bills on Tuesday, with a vote of 79-18, that were previously approved by the House of Representatives, reported Reuters. The bills encompass mostly military aid for Ukraine, Israel, Taiwan, and U.S. partners in the Indo-Pacific.
The package includes a $61 billion allocation for Ukraine, $26 billion for Israel, and humanitarian aid for civilians in conflict zones globally. It also sets aside $8.12 billion to “counter communist China” in the Indo-Pacific. A fourth bill, added by the House last week, includes potential bans on the Chinese-controlled social media app TikTok, measures for the transfer of seized Russian assets to Ukraine, and new sanctions on Iran.
The aid package is expected to be signed into law by President Joe Biden on Wednesday. The bills were combined into one package in the Senate.
Ukrainian President Volodymyr Zelenskiy expressed gratitude to U.S. lawmakers for approving the “vital” aid for Ukraine, emphasizing the reinforcement of America’s role as a beacon of democracy and the leader of the free world.
Both Democratic and Republican leaders in the Senate anticipate that the aid package will send a clear message to Russian President Vladimir Putin and other foreign adversaries that the U.S. will continue to support Ukraine and its partners.
Why It Matters: The approval of the aid package comes amid warnings from the Kremlin that the U.S. support for Ukraine could result in a “humiliating fiasco,” drawing parallels with Vietnam and Afghanistan. The aid package also includes measures for the transfer of seized Russian assets to Ukraine, a move that Russia has threatened to retaliate against.
The approval of this aid package is a significant step in the U.S.’s response to Russia’s invasion of Ukraine and its broader geopolitical strategy in the Indo-Pacific.
Read Next: Biden Set To Sign TikTok Ban Into Law After Senate Passes Bill Supported By GOP, Democrats
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