US Prepares $1 Billion Aid Package For Ukraine

A protester guards the entrance to Ukrainian President Yanukovych's countryside residence in Mezhyhirya, Kiev's region, Ukraine, Saturday, Feb, 22, 2014. Viktor Yanukovych is not in his official residence of Mezhyhir... A protester guards the entrance to Ukrainian President Yanukovych's countryside residence in Mezhyhirya, Kiev's region, Ukraine, Saturday, Feb, 22, 2014. Viktor Yanukovych is not in his official residence of Mezhyhirya, which is about 20 km (12.5 miles) north of the capital. Ukrainian security and volunteers from among the Independence Square protesters have joined forces to protect the presidential countryside retreat from vandalism and looting. Yanukovych left Kiev for his support base in the country's Russian-speaking east, but an aide said that he has no intention of abandoning power.(AP Photo/Efrem Lukatsky) MORE LESS
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KIEV, Ukraine (AP) — U.S. officials say the White House is announcing an aid package to Ukraine of $1 billion in lost energy subsidies as it seeks to extract itself from Russia’s influence.

The announcement came as U.S. Secretary of State John Kerry landed in the Ukrainian capital Tuesday to show American support for Kiev’s military and political struggle against Moscow.

Russian troops have overtaken the local government in Crimea, a strategic region in Ukraine’s southeast. Western leaders are threatening to fierce economic sanctions as early as this week against if Moscow does not retreat.

The economic package also includes training assistance to Ukraine’s national bank, Finance Ministry and election observers ahead of a May 25 national vote.

The U.S. officials spoke on condition of anonymity because the announcement had not yet happened.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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