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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

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Exclusive: U.S. prepares $550 million energy security help for Ukraine, Moldova

President Biden, U.S. Vice President Kamala Harris (L) and House Speaker Nancy Photo Credit Saul Loeb
President Biden, U.S. Vice President Kamala Harris (L) and House Speaker Nancy Photo Credit Saul Lo... President Biden, U.S. Vice President Kamala Harris (L) and House Speaker Nancy Photo Credit Saul Loeb
President Biden, U.S. Vice President Kamala Harris (L) and House Speaker Nancy Photo Credit Saul Loeb
President Biden, U.S. Vice President Kamala Harris (L) and House Speaker Nancy Photo Credit Saul Lo... President Biden, U.S. Vice President Kamala Harris (L) and House Speaker Nancy Photo Credit Saul Loeb

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On Friday, the U.S. will pledge $250 million for Ukraine’s energy infrastructure in the face of Russian aggression and $300 million for Moldova, partially to assist Chisinau wean itself from Russian energy.

According to draft documents obtained by Reuters, U.S. Agency for International Development Administrator Samantha Power will announce the help on the anniversary of Russia’s invasion of Ukraine.

Since Russia invaded Ukraine on Feb. 24, 2022, Europe’s greatest land conflict since World War Two has killed tens of thousands of civilians and troops on both sides and displaced millions.

Russia, which failed to win a swift victory in its “special operation” to demilitarize and “denazify” its neighbor, has repeatedly attacked Ukrainian energy infrastructure to erode Ukrainian morale in the grueling ground conflict.

“The United States government is committed to supporting the Ukrainian government preserve the stability and functioning of its power system against repeated and savage attacks on essential infrastructure by Russian forces,” read one draft paper describing the $250 million in aid for Ukraine.

According to a second draft document, Moldova’s $300 million comprises $80 million in the budget to help offset high electricity prices, $135 million for electric power generating projects, and $85 million to increase its ability to seek alternative energy suppliers.

“This support will help Moldova handle pressing requirements produced by (Russian President Vladimir) Putin’s conflict,” the second paper claimed.

Moldova, a 2.5-million-person former Soviet republic bordering Ukraine, is one of Europe’s poorest countries and largely dependent on Russian gas.

Congress approved $45 billion for Ukraine in a budget measure last year. Congress has 15 days following administration notification to assess anticipated spending under U.S. budget processes.

 

 


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