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Free AccessPentagon Considering Tapping More DOD Stock With Ukraine Aid Stalled
CNN reporting that the Pentagon is considering up tapping ~USD$4 billion availiable to the administration under presidential drawdown authority to bolster Ukraine's flagging war effort. The DOD regularly has used presidential drawdown throughout the conflict but warned ahead of the last package in December that further deliveries were at risk due to national security concerns over the domestic stock.
- The move could fulfil some of Ukraine's immediate military needs but would come without assurances from Congress that funds will be authorised to backfill Pentagon stock.
- CNN notes: "No decisions have been made yet, officials emphasized. But the conversations about that option and other potential plan Bs have become increasingly urgent over the last several weeks as the situation on the battlefield in Ukraine has become more dire, the officials said."
- Defense Department spokesman Lt. Col. Garron Garn said in a statement, “The DoD continues to urge Congress to pass a supplemental to support Ukraine in its time of need and to replenish our stocks.”
- House Speaker Mike Johnson (R-LA) told reporters after yesterday's meeting with President Biden and Congressional leaders: “We will address [Ukraine aid] in a timely manner. But again, our first priority of the country is our border and making sure it’s secure.”
- Semafor notes: “It’s a line Johnson has been using for months, even as he and House Republicans rejected a compromise border bill. It’s no clearer what, if anything, would now lead him to put a Ukraine bill on the floor and risk retaliation from his right.”
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.