Biden administration moves to cancel $4.65B of Ukraine’s debt, send more military aid
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The Biden administration has moved to cancel $4.65B debt owed by Ukraine, half of the $9.4B forgiven loans the U.S. provided, in another step to strengthen support for Kyiv before President-elect Donald Trump takes office.
The loans were part of a $60B military aid package approved by Congress in April. Half of these loans could be forgiven by the president after November 15.
“We have taken the step outlined in the law to cancel those loans,” Matthew Miller, State Department spokesperson, told the media on Wednesday.
Senator Rand Paul (R-KY) sought to block the loan forgiveness, but Congress voted against his resolution.
President Joe Biden directed U.S. officials to rush as much support as possible to Kyiv before his term ends in January, as Trump has been critical of U.S. aid to Ukraine, Reuters reported. To note, most senators on both sides of the aisle support Ukraine aid.
Secretary of State Antony Blinken on Wednesday said the U.S. is providing another package of weapons and equipment to Ukraine, valued at $275M. This includes anti-personnel landmines and nuclear protective gear.