Zelensky signing on a WW-2 era debt trap by the US: Duma Speaker
The future generations of Ukrainian citizens will have to pay for all the ammunition, equipment and food that the US will provide. Zelensky.
Russian State Duma Speaker Vyacheslav Volodin said, on his Telegram channel, that Washington's "Ukraine Democracy Defense Lend-Lease Act" is an expensive credit scheme and by accepting it, Ukrainian President Vladimir Zelensky is pushing the country into a debt trap.
Volodin emphasized, "The lend-lease program is a supplier credit model, and not a cheap one at that because the future generations of Ukrainian citizens will have to pay for all the ammunition, equipment and food that the US will provide. Zelensky is pushing the country into a debt trap."
US loans largely entail corporate takeover of state institutions - this example has been seen in Egypt.
According to Volodin, Washington’s reasons for putting forward the lend-lease are clear because "the lend-lease program will enable US military corporations to rake in enormous profits."
During the Great Patriotic War in the 1940s, the Soviet Union received weapons from the US based on the lend-lease program, which was put forward as a form of assistance from allies. However, it was a trap.
Volodin stressed that the debts that came from this decision had to be paid back, and for years, the Soviet Union was forced to limit itself for years, and to provide platinum, gold, timber, and more to the US for free.
"These payments were completed only in 2006, 61 years after the Great Victory," the speaker noted.
On Thursday, the US House of Representatives passed a legislation providing weapons to Ukraine through a lend-lease model in provision of assistance to Ukraine.
Furthermore, the US Senate approved the document which will be sent to Biden for signing.
The legislation construes that "for fiscal years 2022 and 2023, the president may authorize the United States Government to lend or lease defense articles to the Government of Ukraine or to governments of Eastern European countries impacted by the Russian Federation’s invasion of Ukraine to help bolster those countries’ defense capabilities."
"Not later than 60 days after the date of the enactment of this act, the president shall establish expedited procedures for the delivery of any defense article loaned or leased to the government of Ukraine," the document says.
US Rep. describes Ukraine lend-lease act as "insane"
According to US Kentucky Representative Thomas Massie, the statute authorizing the Biden administration to enter into lend-lease agreements for military equipment with Ukraine and other Eastern European countries allows for the transfer of nearly any weapon except nukes.
On Thursday, Massie Tweeted that the authorization was "insane."
On Friday, the Biden administration requested the US Congress to send $33 billion in emergency additional funding to support Ukraine.
According to the White House, the funding would cover the next five months and would include $500 million in US food production assistance, $3 billion in humanitarian and food assistance, $8.5 billion in economic assistance, and over $20 billion in security and military assistance.
The defense funding will go toward more artillery, anti-armor, anti-air capabilities, and armored vehicles, the White House said, adding that the money will also be invested in a stronger NATO security posture through support for US troops deployed in the region.