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Biden administration decides to cancel .3 billion in loans to Ukraine
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Biden administration decides to cancel $6.3 billion in loans to Ukraine

WASHINGTON – The Biden administration has decided to cancel about $4.7 billion (S$6.3 billion) in US loans to Ukraine, a State Department spokesperson said on November 20. Matthew Miller, as outgoing officials look to do what they can before leaving office to support Ukraine at home. his war against Russia.

A funding bill passed by the US Congress in April included just over $9.4 billion in forgivable loans for economic and budgetary support to the Ukrainian government, half of which could be canceled by the president after the 15th. november. The bill included a total of $61 billion to help Ukraine fight the full-scale invasion launched by Moscow in February 2022.

“We have taken the steps required by law to cancel these loans,” Mr. Miller said at a press briefing, adding that this step was taken in recent days.

Congress could still block the move, Mr. Miller said.

The Senate is scheduled to vote later, on November 20, on a motion to disapprove the cancellation of the loan to Ukraine, introduced by Republican Senator Rand Paul, a frequent critic of US support for Ukraine. The majority of senators from both parties support aid to Ukraine.

President Joe Biden has ordered officials to provide as much aid as possible to Ukraine before leaving office on Jan. 20, amid concerns that President-elect Donald Trump will limit U.S. support. REUTERS