McConnell calls Ukraine aid a ‘direct investment’ for US against Putin’s ‘war machine’ | Canada News Media
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McConnell calls Ukraine aid a ‘direct investment’ for US against Putin’s ‘war machine’

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Greg NashMinority Leader Mitch McConnell (R-Ky.) addresses reporters after the weekly policy luncheon on Tuesday, February 14, 2023.

Senate Minority Leader Mitch McConnell (R-Ky.) affirmed that U.S. aid to Ukraine is a “direct investment” in the country’s interests and against Russian President Vladimir Putin’s “war machine” on the first anniversary of Russia’s full-scale invasion.

The senate minority leader said in a statement on Friday that U.S. national security is tied to stability and security in Europe and preventing Russian forces from advancing in the continent.

“As my fellow leading Republicans and I have explained, it is not an act of charity for the United States and our NATO allies to help supply the Ukrainian people’s self-defense,” he said. “It is a direct investment in our own core national interests.”

McConnell added that the United States has largely been sending older weapons from its stockpile, allowing the U.S. to replenish its inventory with more modern versions of what’s being sent abroad.

“If Putin were given a green light to destabilize Europe, invading and killing at will, the long-term cost to the United States in both dollars and security risks would be astronomically higher than the miniscule fraction of our GDP that we have invested in Ukraine’s defense thus far,” he said.

He called on the Biden administration and U.S. allies to act more decisively in ensuring that their combined assistance to Ukraine and investments in their own militaries happen at the “speed of relevance.” He said experience has shown that weakness and hesitation are what provokes Putin to act.

“The road to peace lies in speedily surging Ukraine the tools they need to achieve victory as they define it,” McConnell said.

The Kentucky Republican said that he has spent the past week traveling with some other GOP senators to meet with leaders of U.S. allies to assure them that the country will continue to invest in its military in order to keep the NATO alliance strong and push them to make greater investments in their defenses to reduce the burden on the U.S.

The country has shown strong bipartisan support for helping Ukraine throughout much of the war over the past year, but some GOP members of Congress — such as Rep. Marjorie Taylor Greene (R-Ga.) — have called for ending U.S. aid to Ukraine.

“We don’t pay taxes to fund foreign country’s wars who aren’t even NATO ally’s,” Greene tweeted Monday.

But other Republican leaders, like McConnell, have been steadfast in maintaining support for Ukraine, telling participants of the Munich Security Conference last week that “Reports about the death of Republican support for strong American leadership in the world have been greatly exaggerated.”

 

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S&P/TSX composite up more than 100 points, U.S. stock markets mixed

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TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 103.40 points at 24,542.48.

In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.

The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.

The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.

The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.

This report by The Canadian Press was first published Oct. 16, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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S&P/TSX up more than 200 points, U.S. markets also higher

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TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.

The S&P/TSX composite index was up 205.86 points at 24,508.12.

In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.

The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.

The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.

The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.

This report by The Canadian Press was first published Oct. 11, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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S&P/TSX composite little changed in late-morning trading, U.S. stock markets down

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TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.

The S&P/TSX composite index was up 0.05 of a point at 24,224.95.

In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.

The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.

The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.

The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.

This report by The Canadian Press was first published Oct. 10, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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