The Biden administration has informed Congress of its intention to cancel $4.65 billion in debt owed by Ukraine, which is approximately half of an economic loan offered earlier this year. State Department spokesperson Matthew Miller confirmed this decision during a briefing, stating that the administration is following the outlined law to provide economic assistance to Ukraine.
In April, Congress passed a supplemental funding package that allocated $60 billion in aid for Ukraine, including $9 billion structured as a loan, with a provision allowing the administration to forgive it. Miller explained that Congress could potentially pass a resolution of disapproval to overturn the cancellation, with Rep. Thomas Massie and Sen. Rand Paul introducing such resolutions.
