Biden Administration Pushes Ukraine to Forgive $4.7B in Loans

WASHINGTON – The Biden administration is pushing to write off about $4.7 billion in U.S. loans to Ukraine, State Department spokesman Matthew Miller said Wednesday, as it looks to do what it can before leaving office to bolster Ukraine in its war against Russia.

The funding bill passed by the US Congress in April included more than $9.4 billion in forgivable loans for economic and budgetary support to the government of Ukraine, half of which the president could cancel after November 15. The bill appropriated a total of $61 billion to aid Ukraine. Fight off a full-scale invasion launched by Moscow in February 2022.

“We have taken the steps required by law to cancel those loans,” Miller said at a press conference, and the steps were taken in recent days.

Miller said Congress could still block the move.

The Senate is scheduled to vote later Wednesday on a proposal to disapprove of a loan waiver for Ukraine put forward by Republican Sen. Rand Paul, a frequent critic of U.S. support for Ukraine. A majority of senators from both parties support aid to Ukraine.

Concerned that President-elect Donald Trump could limit US support, President Joe Biden has ordered officials to help Ukraine as much as possible before he leaves office on January 20.