Free Trial

Ukraine Funding In Jeopardy As Progress On US-Mexico Border Talks Stalls

US

Senator Chris Murphy (D-CT), a member of the Senate group negotiating US-Mexico border reforms which could unlock Republican support for President Biden's USD$106 billion national security supplemental funding request, has told Politico that talks have collapsed amid Republican demands considered too strict for Democrat support.

  • Murphy said that GOP demands would, “essentially close the border” and eliminate asylum for valid claims. Both provisions which are 'nonstarters' for Democrats.
  • Murphy said: “...we’re making pretty big compromises and concessions and Republicans aren’t willing to meet us anywhere close to the middle,” adding that Democrats remain open to restarting talks but, “there’s no path based upon the place where things were at the end of last week.”
  • Senator James Lankford (R-OK), the lead Republican negotiator, said: “I wouldn’t describe it as a breakdown. We’re still swapping paperwork and we’re still having conversations. That doesn’t feel like a breakdown to me. That feels like we’re still working, just not making progress fast enough.”
  • Failure to reach a deal on the border by year's end, when budget negotiations again take center stage in Congress, could effectively quash much of Biden's foreign policy agenda and imperil Ukraine's bid to fend off Russia's invasion.
  • White House OMB Director Shalanda Young issued a letter to Congressional leaders yesterday warning that funds for Ukraine will run out by the end of the year without additional Congressional authorisation.
  • Young warned: "There is no magical pot of funding available to meet this moment. We are out of money—and nearly out of time.”

To read the full story

Close

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.