The Biden administration told Congress it plans to cancel $4.65 billion in debt owed to Ukraine, about half of the economic debt it offered earlier this year.
State Department spokesman Matthew Miller confirmed the plans at a briefing on Wednesday. “So we have taken the steps that were required by law to cancel those loans, to provide that economic assistance to Ukraine,” he said.
In April, Congress approved a supplemental funding package that earmarked $60 billion in aid for Ukraine, with $9 billion arranged as a loan, according to Miller. The administration was allowed to pardon him.
Miller added that Congress could pass a resolution of disapproval to end the repeal. Rep. Thomas Massie, R-Ky. presented such a resolution on Wednesday night. Sen. Rand Paul, R-Ky. immediately said he would introduce a resolution to block the move.
Such a resolution is unlikely to pass the Democratic-controlled Senate, and President Joe Biden could veto it. The supplemental funding package allowed the administration to waive 50 percent of the debt and the remaining 50 percent could be waived after January 2026.
Russia has launched an intercontinental ballistic missile toward Ukraine, the Air Force says
Firefighters work at the site where a residential area was hit by a Russian missile during Russia’s invasion of Ukraine on November 18, 2024 in Odessa, Ukraine. (Press service of the State Emergency Service of Ukraine/Handout by Reuters)
“On his way out, Joe Biden is trying to write off $4.65 billion in Ukraine’s debt to America’s taxpayers. I just introduced HJ Res 224 to stop this “America Last” policy from going into effect. Can.” They posted on X, formerly Twitter.
Congress has appropriated more than $175 billion for Ukraine since Russia invaded in February 2022.
Biden has gone into overdrive to help Ukraine in the weeks since President-elect Donald Trump won the election.
After months of hesitation, he authorized Ukraine to use US-supplied long-range missiles to attack Russia this week. Soon after, he authorized them to use anti-personnel mines, which angered human rights groups.
The US Embassy in KYIV was closed on Wednesday due to a ‘potentially significant airstrike’
A serviceman of the 24th Mechanized Brigade named after King Danilo of the Armed Forces of Ukraine fires a 120 mm mortar at Russian troops on the front line on November 19, 2024.
Firefighters work at the site of a Russian missile attack during Russia’s invasion of Ukraine on Nov. 21, 2024, in Dnipro, Ukraine.
The Biden administration said the decision came after Russia sent 10,000 troops from North Korea to fight in Ukraine.
Biden has also pledged to give the remaining $7 billion from the supplemental package to Ukraine before Biden leaves office. On Tuesday, Defense Secretary Lloyd Austin announced $275 million for Ukraine, which will include more drones, artillery and mortars.
Trump’s allies have accused Biden of “escalating” the war while walking out the door “for politics.”
Other hawkish lawmakers say this is a long overdue step.
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Earlier this month, Biden also approved US military contractors going to Ukraine to help the country maintain and repair US-made weapons systems.
It is unclear whether President-elect Donald Trump will maintain such policies when he takes office, although he has suggested he believes he is at the negotiating table with Ukrainian President Volodymyr Zelensky and Russian President Vladimir Putin. Can end war “in 24 hours” .
