Congress is going to decide whether to grant Ukraine $1 billion or not, AFR says. According to Democratic Senator Robert Menendez, the Senate Foreign Relations Committee has already got to work on the document.
The senator also noted that Ukraine is teetering on the brink of economic collapse, which is the result of poor management and corruption in the country. The ongoing economic aid package is going to contain a range of measures aimed at fighting against bribery. Besides, the United States will provide this post-Soviet country with help in the recovery of derived assets.
Moreover, the Senate is holding negotiations with President Obama’s administration on imposing sanctions against some Russian and Ukrainian individuals. Such measures would range from "visa bans and asset freezes, to the suspension of military cooperation and sales, as well as economic sanctions". Menendez did not specify any details.
New Ukraine’s government, which seized the power dumping President Viktor Yanukovych, had previously announced the beginning of negotiations with the U.S. and EU on possible financial aid. Currently, to “stay afloat”, Ukraine needs $35 billion, while $5 billion of them is desirable to be allocated in the near-term.
Early this year, Ukraine had already been exhausted financially after several month of unrest. Since the beginning of the year, the country’s forex reserves have contacted $5 billion.