Biden-Harris admin moves to forgive $4.7 BILLION in loans made to Ukraine
“We have taken the step that was outlined in the law to cancel those loans.”
Loading the front page…
“We have taken the step that was outlined in the law to cancel those loans.”
The Biden-Harris administration seeks to forgive about $4.7 billion in US loans to Ukraine, State Department spokesperson Matthew Miller said Wednesday, per Reuters. "We have taken the step that was outlined in the law to cancel those loans," Miller said at a daily State Department news briefing. Miller said that the decision to forgive the $4.7 billion in loans was a recent one, while he added that Congress could still reverse that decision.
The Biden-Harris regime has now spent almost $60 billion in military and administrative assistance on Ukraine. Congress has already passed a funding bill in April that forgave $9.4 billion in loans to Ukraine, even as it appropriated a total of $61 billion in assistance that has included funding both for arms and for maintenance of the Ukrainian government.
Sen. Rand Paul (R-KY), who opposes US military assistance to Ukraine, introduced a motion Wednesday to block loan forgiveness for Ukraine. It is not expected to pass. President Joe Biden has continued to spend money on Ukraine and increase direct military assistance as he nears the end of his presidential term and prepares to exit when Trump takes the inauguration oath on Jan. 20.
The loan forgiveness is the latest move from the administration to keep Ukraine on a war footing even though President-elect Donald Trump has promised to broker a peace settlement soon after replacing Biden. On Sunday, the Biden-Harris administration approved the use of US missiles to strike targets inside Russia, provoking threats of retaliation from Russia. On Wednesday, the outgoing administration approved the deployment of anti-personnel landmines in Ukraine.
Libby’s Desk
Commentary and must-reads from Libby’s desk, straight to your inbox.
TPM Newsletter
The Post Millennial’s top stories, delivered to your inbox.
