Biden Administration Forgives $4.7 Billion in Loans to Ukraine

The move, part of a broader aid package, faces Republican opposition and potential congressional disapproval.

The Biden administration has canceled $4.7 billion in loans to Ukraine as outlined in a funding bill passed by Congress in April.
The forgivable loans were part of a $61 billion U.S. aid package to support Ukraine's defense against Russia's invasion.
Republican lawmakers, including Sen. Rand Paul and Rep. Thomas Massie, have introduced resolutions to block the debt forgiveness, citing concerns over taxpayer burden.
The Senate is expected to vote on a disapproval motion, though bipartisan support for Ukraine aid remains strong.
President Biden has prioritized expedited aid to Ukraine before leaving office, while concerns grow over potential policy shifts under President-elect Donald Trump.