Ukraine loses two-thirds of its revenues as US funding dries up

War-torn Ukraine has lost $24bn because the United States has refused to include aid to Kiev in its short-term spending bill, an analysis of the country's budget data shows.

On 30 September, US lawmakers excluded a rise in funding for Ukraine from the House version of the short-term spending bill.

Last month, the White House asked the US Senate for $24 billion for Ukraine for the 2024 fiscal year, from 1 October 2023 to 30 September 2024. The Senate, however, proposed to allocate $4.5 billion for the Pentagon and $1.65 billion for the State Department to Ukraine.

On Sunday, US President Joe Biden signed the bill passed by Congress, which will allow the continuation of government funding for 45 days - until 17 November. At the same time, the law does not provide for the allocation of funds for Ukraine.

Ukraine has calculated that it needs about 1.33 trillion hryvnia, (approximately $36 billion), to get it through 2023, which means that the US shortfall has left it out of pocket for two-thirds of the year, ie for eight months and three days.

Since February 2022, the US Congress has appropriated over $45 billion to the State Department and the US Agency for International Development (USAID) to support Ukraine's military operations, provide humanitarian assistance, and ensure the continuity of the government in Kiev.