Biden to announce $1 billion military aid to Ukraine Wednesday

US President Biden is expected to announce more than $1 billion in new military assistance to the Ukraine government as early as Wednesday, according to US officials. Ukrainian President Volodymyr Zelensky is expected to make a plea to Congress for more aid to defend his country.

The money would come from the roughly $13.6 billion allotted for Ukraine in the omnibus budget bill President Biden signed Tuesday.

While the White House is considering sending more troops to Europe to add to the roughly 15,000 deployed there since the Russia-Ukraine crisis began, Mr. Biden isn’t expected to deploy more troops now, U.S. officials said.

The news adds to the already tense relations between the US and Russia and weighs on the market sentiment, which in turn pushes S&P 500 Futures to print mild losses despite Wall Street’s upbeat closing. That said, the US stock futures drop 0.15% intraday at the latest.