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Biden wants to forgive over $4.5 bln in loans to Kyiv

Biden administration moves to cancel over $4.5 bln of Ukraine’s debt

09:26, 21.11.2024
  ej/md;
Biden administration moves to cancel over $4.5 bln of Ukraine’s debt The outgoing U.S. administration has informed Congress of its intention to cancel half of Ukraine’s debt from an aid package approved in April, a State Department spokesperson said on Wednesday.

The outgoing U.S. administration has informed Congress of its intention to cancel half of Ukraine’s debt from an aid package approved in April, a State Department spokesperson said on Wednesday.

Archive photo by Ukrainian Presidential Press Office via Getty Images
Archive photo by Ukrainian Presidential Press Office via Getty Images

Podziel się:   Więcej
President Joe Biden signed a support package for Ukraine in April worth almost $61 billion. Of this sum, nearly $9.4 billion was in the form of loans for economic and budgetary aid, of which the president was empowered to cancel up to half after November 15.

State Department Spokesperson Matt Miller told a press briefing on Wednesday that the administration had informed Congress that it intended to use that prerogative.

"We have taken the step that was outlined in the law to cancel those loans," Miller said, adding that the move had been made within the last week.

Congress is empowered to block the cancellation, but Miller said he would be “surprised if Congress took that step given the overwhelming bipartisan support in Congress for providing assistance [to Ukraine].”
 
 
 
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Republican Senator Rand Paul, a consistent critic of U.S. aid to Ukraine, filed a motion on Tuesday for a resolution disapproving the loans’ cancellation.

Reuters reported in early November, citing an anonymous administration source, that Biden plans to fast-track as much support to Kyiv as possible before his successor, Donald Trump, takes office in January.

Last week, Biden revised U.S. policy on using U.S.-provided missiles for strikes inside Russia. Since then, Ukraine has hit targets beyond its borders with U.S.-made ATACMS and British Storm Shadow missiles.

On Wednesday, Defense Secretary Lloyd Austin said Biden had also agreed to provide Kyiv with anti-personnel mines.