The Biden administration has informed Congress of its intention to cancel $4.65 billion of Ukraine’s $9 billion loan, Bloomberg reported.

A State Department letter to Congress, reviewed by Bloomberg, says debt cancellation is “in the national interest of the United States and its partners in the EU, G7+ and NATO” , because it will help Ukraine win the war.

The $9 billion loan was part of a $60 billion U.S. aid package approved in April 2024. According to Bloomberg, canceling half of the loan would mark “the latest in a series of measures intended to strengthen support for kyiv” before Donald Trump’s inauguration.

Bloomberg noted that the plan faced opposition from Republicans. Sen. Rand Paul of Kentucky said he intends to hold a vote in the Senate to “stop the Biden administration,” arguing the move shifts the debt burden onto Americans. However, as Democrats still control the Senate, the resolution is unlikely to pass, Bloomberg noted.