Presidential drawdowns for military aid to Ukraine has left the United States with dangerously low levels of weapons stockpiles, according to a report obtained by Newsmax.
President Joe Biden has used drawdowns – which allow the president to withdraw existing weapons, ammunitions, and material from existing U.S. military stocks to assist other nations – to aid Ukraine in its war against Russia.
A Bank of America Securities report obtained by Newsmax’s Logan Ratick said that presidential drawdowns have reduced U.S. weapons stockpiles to levels not seen in decades.
The report said the U.S. had committed nearly $8.4 billion through presidential drawdowns – more than half of the overall $16.2 in security aid – since Russian President Vladimir Putin began his unprovoked attack on Feb. 24.
“As the U.S. continues to provide security assistance to Ukraine, defense primes have been tasked with both meeting newfound demand throughout Europe and restocking U.S. inventories that have dwindled as a result of 20 presidential drawdowns since August 2021,” the report said.
Department of Defense officials have indicated that ammunition stocks with several ground systems have dwindled to levels that would be considered problematic during wartime, the report said.
The defense update report, focused on determining which “contractors are poised to benefit” from the drawdowns, said Raytheon Technologies, Lockheed Martin, and General Dynamics are best positioned to bolster defense due to “large exposure to legacy ground-based systems.”