The US will run out of funds for financing Ukraine by the end of the year, which will ‘bring Kyiv to its knees’ – White House

The United States will run out of funds to finance Ukraine by the end of the year unless Congress approves a new aid package.

This was stated to lawmakers by the White House Budget Director Shalanda Young, as reported by the Financial Times.

“There is no magic pot of money that will meet this moment. We are out of funds — and time is running short. Halting the flow of American weaponry and equipment would leave Ukraine on its knees on the battlefield, not only jeopardizing the gains Ukraine has made but also increasing the likelihood of Russian military victories,” she wrote in a letter to leaders of both parties.

The money is needed for both weapon supplies and to support the economy.

“If Ukraine’s economy collapses, they won’t be able to continue the fight, period. Putin understands this well, which is why Russia has made the destruction of Ukraine’s economy a central element of its strategy — as seen in its attacks on Ukraine’s grain exports and energy infrastructure,” Young stated.

She concludes by highlighting that allocating funds to Ukraine would benefit the U.S. economy as well.