View Page As PDF
Share Button
Tweet Button

After Senate Democrats backed down on the inclusion of language aimed at reforming the International Monetary Fund (IMF), the House and Senate both passed legislation aimed at punishing Russia and providing aid to Ukraine in response to the situation in Crimea.

Senate Democrats had been pushing for the IMF reform provisions, which are backed by the Obama administration. The IMF language, however, was opposed by many conservative organizations and conservatives in the House.

The final legislation passed by both chambers would freeze the assets and revoke the visas of Russian officials and their associates who are complicit in or responsible for corruption in Ukraine. The legislation also includes $1 billion in loan guarantees to Ukraine. The cash-strapped country says it needs more than $35 billion over the next two years to avoid defaulting on its debt.