(QHA) -

Ukrainian President Petro Poroshenko said he and his U.S. counterpart Barack Obama have reached an agreement that the U.S. will provide Ukraine with financial guarantees worth $1 billion.

 "Agreed with BarackObama that Ukraine will receive $1 billion in financial guarantees," he said after visiting Washington where he secured $53 million in assistance but failed to win the argument for the United States to provide Ukraine weapons to fight pro-Russian separatists in its east. 

This comes after Ukrainian President Petro Poroshenko delivered remarks to a joint meeting of U.S. Congress about the situation in his country and the ongoing conflict with Russia. 

Speaking about situation in Crimea, Poroshenko told the Congress Ukraine would never recognize the annexation of Crimea, but Emphasized that there could be only peaceful solution of the issue. The president's speech was punctuated by repeated applause and standing ovations.