Biden: US will pay Ukraine $10 billion
Iran Press TV
Tue Dec 16, 2014 11:28AM GMT
The United States will grant as much as $10 billion as financial support to Ukraine, Vice President Joe Biden told Ukrainian President Petro Poroshenko.
Biden pledged the aid during a telephone conversation with Poroshenko on Monday, according to a statement from the White House.
The US along with partners, including the International Monetary Fund, will try "to ensure that Ukraine will have the macroeconomic support it needs as it implements its reform program," Biden told the Ukrainian president.
At least, $10 billion is needed in order for Ukraine to avoid a default as its economy is deteriorating due to spending cuts and the ongoing crisis.
The Ukrainian government is currently suffering from the worst recession since 2009 with hryvnia, its national currency, going down 48 percent against the dollar.
Poroshenko also told Biden that he hoped President Barack Obama will sign a newly-passed bill by Congress to impose fresh sanctions on Russia.
The legislation would allow the US to impose sanctions on Russia's energy and defense industries and permit Washington to provide lethal aid to Ukraine, including anti-tank weapons, ammunition, and 'tactical troop-operated surveillance drones.'
According to the White House, Obama has not made any decision about the bill and that he is still evaluating the measure.
Military tensions between the United States and Russia have escalated steadily since April, when the Black Sea peninsula of Crimea reunited with the Russian Federation following a referendum a month earlier.
Washington accuses Moscow of arming and supporting pro-Russian forces fighting in the predominantly Russian-speaking areas in eastern Ukraine. Moscow calls the accusations 'groundless'.
AT/AT
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