The House has approved a bill that would provide Ukraine with $1 billion in loan guarantees. The measure now heads to the Senate. 

Ron Paul: US Aid Package to Ukraine Is Wasteful

Read more from

The House has approved a $1 billion loan guarantee package for Ukraine, as part of the U.S. effort to support the new government as Russia continues to occupy the Crimean Peninsula. 

The measure was approved on a 385-23 vote, and goes next to the Senate. 

The Obama administration announced the energy and aid package on Tuesday, when Secretary of State John Kerry landed in Kiev for talks with the new government. 

The White House said the $1 billion loan guarantee was aimed at helping insulate Ukraine from reductions in energy subsidies. Russia provides a substantial portion of Ukraine's natural gas and U.S. officials said they are prepared to work with Kiev to reduce its dependence on those imports. 

The assistance is also meant to supplement a broader aid package from the International Monetary Fund.