The agreement, signed on April 30, establishes a joint investment fund between Kyiv and Washington and grants the U.S. special access to projects developing Ukraine's natural resources.
Ukraine is considering moving away from the U.S. dollar and closer to the euro as a benchmark for the hryvnia, National Bank Governor Andrii Pyshnyi told Reuters.
The Atesh partisan group claims it disabled communication at several Russian military facilities when it allegedly destroyed equipment at a transformer substation in the village of Mogiltsy in Russia's Moscow Oblast.
"The Russians are asking for a certain set of requirements, a certain set of concessions in order to end the conflict. We think they’re asking for too much," U.S. Vice President JD Vance said on May 7, according to Politico.
EU ambassadors began talks this week on a 17th sanctions package that targets Russia’s military-industrial complex, Moscow’s shadow shipping fleet, and related support networks.
US Chairman of the Joint Chiefs of Staff General Mark Milley speaks at a press briefing with Defense Secretary Lloyd Austin on March 15, 2023 at the Pentagon in Washington, DC. (ANDREW CABALLERO-REYNOLDS/AFP via Getty Images)
The U.S. Defense Department overestimated the value of arms sent to Ukraine over the past two years by $6.2 billion. The unspent sum will be used for further military aid, Pentagon spokesperson Sabrina Singh said on June 21.
"In a significant number of cases, services used replacement costs rather than net book value, thereby overestimating the value of the equipment drawn down from U.S. stocks and provided to Ukraine," Singh explained.
The surplus will return to the allocated fund for Ukraine, to be used for future expenses.
According to the Pentagon's final calculations, there was an error of $2.6 billion in the 2022 fiscal year and $3.6 billion in the 2023 fiscal year.
Earlier in June, the U.S. government said that the security assistance to Ukraine amounted to roughly $40 billion. By the new calculations, this would amount only to around $34 billion.
This announcement comes amid Ukraine's long-awaited counteroffensive push to regain occupied territories, requiring significant materiel and financial support.
The Pentagon discovered another accounting error in security support for Ukraine in May, resulting in a surplus of $3 billion.
Martin Fornusek is a news editor at the Kyiv Independent. He has previously worked as a news content editor at the media company Newsmatics and is a contributor to Euromaidan Press. He was also volunteering as an editor and translator at the Czech-language version of Ukraïner. Martin studied at Masaryk University in Brno, Czechia, holding a bachelor's degree in security studies and history and a master's degree in conflict and democracy studies.
Martin Fornusek
