The Biden administration has initiated the cancellation of approximately $4.7 billion in U.S. loans to Ukraine, State Department spokesperson Matthew Miller confirmed on November 20, according to Reuters.
These loans were part of a funding bill passed by Congress in April, which included $9.4 billion in forgivable loans to support Ukraine’s economic and budgetary needs.
The legislation, which allocated $61 billion in total aid for Ukraine, granted the president authority to cancel half of the loans after November 15.
The Senate is expected to vote on Wednesday on a motion of disapproval introduced by Senator Rand Paul, a vocal critic of U.S. aid to Ukraine.
Despite this challenge, bipartisan support for continuing aid to Ukraine remains strong.
President Joe Biden has stressed the urgency of expediting assistance to Ukraine before the end of his term in January, amid uncertainties about future U.S. policy under President-elect Donald Trump, Reuters reported.
In a related development, the U.S. Department of State recently approved a potential $100 million sale of equipment and services to Ukraine. This support is intended to maintain and repair military vehicles provided as part of ongoing security assistance.
