The United States will run out of funds to provide financial assistance to Kyiv by the end of the year if Congress does not approve the request of the President Joe Biden administration for additional funding.
Source. This was reported by the Director of the White House Office of Management and Budget Shalanda Young, Bloomberg reports.
"There is no magic pot of funding that will help us meet this challenge. We are out of money and almost out of time," she said.
According to Shalanda Young, the refusal to agree on new support "will bring Kyiv to its knees on the battlefield" and increase the likelihood of Ukraine's defeat.
The presidential administration is expected to provide additional information this week on the consequences of refusing to provide funding until the end of 2023, the agency said.
At the end of October, Biden sent a request to Congress for $61.4 billion in financial assistance to Ukraine, as well as $14.3 billion to strengthen Israel's defense.
"Putin believes that Ukraine has never had the right to exist as a sovereign state and does not have this right now. Just two weeks ago, he said that if the United States and its allies stopped helping Ukraine, Ukraine would have one week to exist," the US president said.
Although most U.S. lawmakers are in favor of supporting Ukraine, there has been a recent disagreement in Congress over the amount of aid to Kyiv.
The White House and the Pentagon have repeatedly reported that resources to support Ukraine are almost exhausted.
The European Union is also having problems providing financial support to Ukraine. On December 4, the Financial Times reported, citing an unnamed senior official, that the €50 billion financial aid package promised several months ago has not yet been agreed upon and that the EU countries are still far from reaching an agreement on this issue.
Among the reasons for the current situation, the newspaper cited a recent German court ruling to limit the German government's borrowing, the rise of the far-right in the Netherlands, and the position of Hungarian Prime Minister Viktor Orban, who has repeatedly opposed providing additional funding to Kyiv.