The war between Ukraine and Russia continues as Congress seems at odds about sending further funding to Ukraine during their time of need. On Tuesday, Germany's finance minister said that the country can't keep up Ukraine's defense capabilities on its own in the long term and will need help from other countries. If Congress can't get funding together it risks much of the progress Ukraine has made against rising inflation in its economy.

Hermitage Capital Management CEO Bill Browder joins Yahoo Finance to discuss the ongoing war between Ukraine and Russia, Ukraine's dire need for financial support, and the impact the war has on the rest of the world.

"There's two big things to be concerned about. The first is the short term — there's a 50 billion euro aid package from Europe held up by Viktor Orban of Hungary. Europe needs to make their decisions unanimously. He's vetoed the decision," Browder says. "There's a $63 billion US aid package for Ukraine that's being held up by the far right of the US Republican Party. So in the short term, both those packages need to be unblocked."

For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

Editor's note: This article was written by Nicholas Jacobino

Video Transcript

[LOGO PLAYING]

- The latest aid packages from Ukraine's two largest financial backers are being held up by political infighting. The timing is crucial for Ukraine and its ongoing fight against Russia. The nation could run out of funding within months. That's according to officials if additional support is not provided.

Here to discuss the situation. And more is Bill Browder, Hermitage Capital Management CEO and head of the Global Magnitsky Justice Campaign, a long time critic of Russia. Good to see you, Bill. Thank you so much for being here.

We're talking about this as folks are voting in the New Hampshire primary. And I know the people over in Europe, in particular, are watching the US election very closely both on the presidential and congressional end to see what it's going to mean for Ukraine. What are you watching? What are you concerned about here?

BILL BROWDER: Well, there's two big things to be concerned about. The first is the short-term. There is a $50 billion Euro aid package from Europe that's been held up by Viktor Orban of Hungary.

Europe needs to make their decisions unanimously. He's vetoed the decision. And so that's blocking the EU package for Ukraine.

And there's a $63 billion US aid package for Ukraine that's being held up by the far right of the US Republican Party. And so in the short-term, both those packages need to be unblocked. I'm pretty confident that both of them will be. I don't think that this is a permanent thing.

But the big and long-term issue is or I should say medium term issue is November 2024. If Donald Trump is elected president of the United States, he's pretty much committed to cutting off US funding for Ukraine. And if that were to happen, it would have a devastating effect on Ukraine's ability to continue to fight off Russia.

- And so, Bill, I'm just curious more in the near term. Why are your reasons for optimism here in the US where on Capitol Hill? It seems like we've been having this same debate for a while here where Republicans are saying, listen, if there's going to be Ukraine funding, it's got to be tied to border security.

BILL BROWDER: Well, I think, I mean, I've done a lot of work in Washington over a long period of time on the Magnitsky Act. And I've seen how the sausage gets made. And this is a high priority for the Biden administration to get this aid package released.

And there will be a negotiation that will eventually lead to the package being released. I can't imagine a scenario where that doesn't happen. It may be delayed.

It may come with all sorts of ugly attachments. But I can't really imagine a scenario where it just doesn't happen. Similarly with Europe, I imagine that they'll find some compromise.

But if you have the presidential-- the president saying I don't want to do this, which is what Trump has said, that creates a much more dire scenario.