US President Biden pleads for $US33bn boost to help Ukraine fight Russia

President Joe Biden wants US Congress to urgently approve an extra $US33 billion in aid for Ukraine, saying it’s ‘not cheap’ but caving in to Russian aggression will be more costly.

US President Joe Biden has proposed selling the assets of Russian oligarchs to increase aid for Ukraine. Picture: Jim WATSON/AFP

US President Joe Biden has asked Congress for another $US33 billion ($46 billion) to support Ukraine in a signal to Russia that the United States is determined to end the invasion.

The new package includes more than $US20 billion for weapons, ammunition and other military help, $US8.5 billion in direct funding for the government and $US3 billion in humanitarian aid.

It follows an initial $US13.6 billion in defence and economic aid for Ukraine and western allies enacted last month that is almost exhausted. The US has sent $US3 billion in military supplies in the two months since Russia invaded.

Mr Biden also proposed selling assets seized from Russian oligarchs to increase aid to Ukraine and vowed to help Bulgaria and Poland meet their energy needs after Moscow cut off their gas.

The President needs the support of Republicans and Democrats to pass the extra budget requests because “we’re out of money” for Ukraine.

Russia accuses the US and other countries backing Ukraine of waging a “proxy war” against it and has warned of retaliation.

Mr Biden said at the White House after signing the request to Congress: “We need this Bill to support Ukraine in its fight for freedom. The cost of this fight – it’s not cheap but caving to aggression is going to be more costly. It’s critical this funding gets approved and as quickly as possible.”

His request represents the full amount the White House has forecast for Ukraine assistance until September, the end of the fiscal year. It includes food security aid, economic stimulus for Ukraine and funding to expand the production of key materials in short supply, using the Defence Production Act of 1950, enacted during the Cold War at the start of the Korean War.

The Biden Administration has said the US and its European allies have frozen $US30 billion of assets held by oligarchs linked to President Putin, including yachts, helicopters, buildings and art.

The President said: “I am sending to Congress a comprehensive package that will enhance our effort to hold accountable the Russian oligarchs and make sure we take their ill-begotten gains. We’re going to seize their yachts, their luxury homes … this will ensure that when the oligarchs’ assets are sold off, funds can be used directly to remedy the harm Russia caused and help rebuild Ukraine.”

Mr Biden is also asking Congress to make it a criminal offence for a person to “knowingly or intentionally possess proceeds directly obtained from corrupt dealings with the Russian government”. He wants to double the statute of limitations for foreign money laundering offences to 10 years and expand the definition of “racketeering” to include efforts to evade sanctions.

He promised that the US would work to support its allies’ energy needs.

“Russia has long claimed to be, quote, ‘a reliable source of energy for the world’ … but these actions prove that energy is not just a commodity that Russia sells to help meet other countries’ needs but a weapon used to deploy against those who stand against her aggression.

“I want to be clear, we will not let Russia intimidate or blackmail their way out of the sanctions. Aggression will not win. This is just another reminder of the imperative for Europe and the world to move more and more of our power needs to clean energy.”

Mr Biden criticised Russian leaders for talking about nuclear weapons. He also said claims that the US and NATO were in a proxy war were “not true”.

He added: “They do concern me, because it shows the desperation that Russia is feeling about their abject failure in being able to do what they set out to do.”

The Times