The Senate's Ukraine Aid Package, House-Refused (S. 2124)

What is S. 2124?

(Updated July 13, 2017)

-Authorizes $100 million in direct assistance and provides $1 billion in loan guarantees to Ukraine for such as improving democratic governance and anti- corruption efforts and supporting free and fair elections in Ukraine. 

-Condemns the "unjustified military intervention of the Russian Federation in the Crimea section of Ukraine"; supports an independent Ukrainian nation-state; encourages independent Ukraine to "forge closer ties with Europe"; provides loan guarantees and $150 million in economic aid for Ukraine; and imposes sanctions against both the former Ukrainian government and the Russian Federation. 

Argument in favor

The Russian Federation's military intervention is unjustified and in opposition to the guidelines laid out in the 1994 Budapest Memorandum on Security Assurances. Supports the Ukraine's move to a more independent and democratic nation-state.

Argument opposed

Russia can impose sanctions of its own against U.S. Senators voting for the bill and interfere with events ranging from withdrawal of U.S. troops from Afghanistan (via Russian-controlled airspace) to affecting nuclear talks with Iran.

Impact

The U.S., Russia, Ukraine, and at least much of Europe. Potential sanctions, in addition to language focused on "energy sources" and "energy security" could have far-reaching, long-term implications for the private sector on a global scale.

Cost of S. 2124

The CBO estimates a cost of $373 million between 2014 and 2024, with an estimated Congressional budget authority of $1.26 billion over the same period.

Additional Info

Of Note: 

-Article 15 of Section 3 implies that Russia's participation in the G-8 would be at risk were the nation to not respect "the territorial integrity of its neighbors". The G-8 summit is at present scheduled to be held in Sochi, Russia in June 2014. 

-Article 16 of the same section focuses on "explor[ing] ways for the United States Government to assist the countries of Central and Eastern Europe to diversify their energy sources and achieve energy security".