President Joe Biden plans to announce a $325 million military aid package for Ukraine on Thursday as Ukrainian President Volodymyr Zelensky visits Washington, D.C., according to a Reuters report citing an unnamed U.S. official. The U.S. has sent more than $40 billion worth of security assistance to Ukraine since Russia invaded the country in February 2022, and the latest package is made possible by utilizing presidential drawdown authority, which authorizes Biden to make transfers from U.S. stocks without congressional approval during an emergency, according to the report. Biden is asking Congress for an additional $24 billion in security and humanitarian aid for Ukraine.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.