Written by Mike Stone
SIMI VALLEY, Calif. (Reuters) – The United States on Saturday announced a $988 million aid package that includes new weapons and equipment for Ukraine as it continues to fight Russian aggression.
The package nearly eliminates the available $2.21 billion remaining in the Ukraine Security Assistance Initiative, as the Biden administration works to buy weapons from industry rather than raise funds from U.S. arms inventories. Divide in half.
The USAI funds will be used to purchase ammunition for the U.S. High Mobility Artillery Rocket System (HIMARS). lockheed martin (NYSE:) The Pentagon says it will also provide drones and spare parts to maintain artillery equipment.
The package announcement was made Saturday as defense industry and policymakers meet at the annual Reagan Defense Forum in California.
The Biden administration has frequently made use of presidential drawdown powers, which give President Joe Biden the power to transfer excess goods and services from U.S. stocks in emergencies without Congressional approval.
Separate USAI funds will be used to purchase new weapons from industry.
The Biden administration still retains about $6 billion in presidential revocation authority granted by Congress, including funding authorized in 2024 and the National Defense Agency after overestimating the value of weapons exported to Ukraine. It also includes funds discovered by the Ministry of Internal Affairs and Communications.
Since the Russian invasion in February 2022, the United States has pledged more than $62 billion worth of security assistance to Ukraine.
