The House of Representatives voted 378 to 34 on Tuesday to approve the bill, which has now been sent to the White House for US President Barack Obama to sign it into a law. (Agencies)
The White House welcomed the passage of the bill HR 4152, which had earlier been passed by the Senate.
"The President welcomes today's congressional action to finalize an assistance package for Ukraine. This legislation will allow us to provide crucial support to Ukraine through loan guarantees that will facilitate access to needed financing to Ukraine as it takes essential steps to restore economic stability and return to growth and prosperity," White House Press Secretary Jay Carney said.
The Obama Administration supports the targeted sanctions authority provided in the bill to impose costs on individuals and entities who are responsible for acts of violence against the Ukrainian people or are undermining Ukraine's peace, stability, sovereignty or territorial integrity, Carney said.
"Together with our international partners, the President will continue to build support for the Ukrainian people at this critical time," he said.
Welcoming the passage of the bill, Congressman Ed Royce, Chairman of the House Foreign Affairs Committee, said the President must do more than sign this bill into law – by implementing the legislation to its fullest extent.
"The President should remove restrictions on natural gas exports, helping break Putin's energy grip over eastern Europe. We must stop sanctioning ourselves," he said.
Senator Bob Corker, ranking member of Senate Foreign Relations Committee, said, "Along with our European partners, US must demonstrate long-term resolve to deter any further Russian intervention in Ukraine and the region, including imposing additional economic sanctions that will exact real costs for Putin's actions in Crimea."
The bill authorises the State Department to provide funds for the purpose of loan guarantees for Ukraine. It requires the State Department and Justice Department to assist the Ukrainian government in the recovery of assets amassed by corruption Ukrainian officials, including former President Viktor Yanukovych.
It authorizes USD 50 million for the purpose of technical, democracy, and civil society assistance for Ukraine and other Eastern Partnership countries.
It directs the President and authorises up to USD 100 million over fiscal 2015-2017 to provide security assistance for Ukraine and other countries in Central and Eastern Europe.
The bill imposes mandatory sanctions, including visa bans and asset freezes, against persons determined to have engaged in violence or serious human rights abuses in Ukraine, activities undermining the sovereignty and territorial integrity of Ukraine.
The House of Representatives voted 378 to 34 on Tuesday to approve the bill, which has now been sent to the White House for US President Barack Obama to sign it into a law.