Proud For Profits
  • Investing
  • Stock
  • Latest News
  • Economy
  • Investing
  • Stock
  • Latest News
  • Economy
No Result
View All Result
Proud For Profits
No Result
View All Result
Home Stock

Biden readies $375 million arms aid package for Ukraine

by
September 20, 2024
in Stock
0
Biden readies $375 million arms aid package for Ukraine

By Mike Stone

WASHINGTON (Reuters) – The United States is preparing a $375 million military aid package for Ukraine, breaking a months-long trend towards smaller packages for Kyiv for its military operations against Russia, two U.S. officials told Reuters on Friday.

The latest package comes at a crucial time in the war, as Russia pummels Ukraine’s energy grid ahead of the critical winter months.

The aid package, expected to be announced next week, includes patrol boats, additional ammunition for high-mobility artillery rocket systems (HIMARS), 155 and 105 millimeter artillery ammunition, spare parts and other weapons, the officials said, speaking on condition of anonymity.

The contents and size of the package could change in the coming days ahead of the president’s expected signature.

Since May, the U.S. has not sent an aid package greater than $275 million using Presidential Drawdown Authority (PDA).

PDAs allow the U.S. to draw from current weapons stocks to help allies in an emergency. In August, as Ukraine was pressing an incursion into Russia and losing territory in its east to Russian advances, the U.S. sent two packages, both for $125 million each.

Pro-Ukraine U.S. congressional leaders and President Joe Biden’s administration are working towards an agreement to seek a one-year extension of about $5.5 billion worth of PDA for Ukraine that is due to expire this month.

There was bipartisan support for the plan to include the extension of the PDA in a Continuing Resolution, a short-term emergency spending bill that the Senate and House of Representatives must pass to avoid a Sept. 30 government shutdown.

The authority set to expire in days was granted in a supplemental spending bill passed in April after a long delay by Republican opponents of Ukraine aid.

April also saw an increase in funds to buy new weapons that would replenish the U.S. weapons stocks drawn down by Ukraine PDA packages. Experts envisioned these new orders would boost the order backlogs of weapons makers like RTX, Lockheed Martin (NYSE:LMT), General Dynamics (NYSE:GD), and Northrop Grumman (NYSE:NOC).

This post appeared first on investing.com
Previous Post

Darden Restaurants: Bernstein sees limited upside, Evercore ISI bullish

Next Post

Calamos VP John Koudounis sells shares worth over $380k

Next Post
Calamos VP John Koudounis sells shares worth over $380k

Calamos VP John Koudounis sells shares worth over $380k

Enter Your Information Below To Receive Trading Ideas and Latest News

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    Popular News

    NevGold Mobilizes Drill To Test Historical Leach Pads To Advance The Near-Term Antimony Production Scenario at Limo Butte

    NevGold Mobilizes Drill To Test Historical Leach Pads To Advance The Near-Term Antimony Production Scenario at Limo Butte

    March 13, 2026
    Cartier Cuts 7.1 g/t Au over 8.0 m at Portal ; New Shallow High-Grade Gold Zone Discovered

    Cartier Cuts 7.1 g/t Au over 8.0 m at Portal ; New Shallow High-Grade Gold Zone Discovered

    March 13, 2026
    US destroys 16 Iranian mine boats as Strait of Hormuz oil showdown escalates

    US destroys 16 Iranian mine boats as Strait of Hormuz oil showdown escalates

    March 12, 2026
    Track all markets on TradingView

    About Proud For Profits

    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Main Categories

    • Investing
    • Stock
    • Latest News
    • Economy

    Latest News

    • NevGold Mobilizes Drill To Test Historical Leach Pads To Advance The Near-Term Antimony Production Scenario at Limo Butte
    • Cartier Cuts 7.1 g/t Au over 8.0 m at Portal ; New Shallow High-Grade Gold Zone Discovered
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2026 proudforprofits.com | All Rights Reserved

    No Result
    View All Result
    • Investing
    • Stock
    • Latest News
    • Economy

    Copyright © 2026 proudforprofits.com | All Rights Reserved