In a major move before leaving office, President Joe Biden has decided to cancel $4.7 billion worth of loans given to Ukraine. These loans, initially funded by American taxpayers, were part of a larger financial aid package meant to help Ukraine during its ongoing conflict with Russia. This decision has sparked a heated debate in Washington, with some praising Biden's efforts to support Ukraine, while others criticize the burden it places on American citizens.
What’s Going On?
Since the conflict between Ukraine and Russia began in February 2022, the U.S. Congress has approved a staggering $174 billion in aid to Ukraine. This money has been used to fund Ukraine’s military, economy, and government operations as the country battles to stay afloat.
Earlier this year, a $61 billion aid package was passed, which included $9.4 billion in loans to help cover Ukraine’s budget gaps. These loans came with a unique twist—some of them could be "forgiven," meaning Ukraine wouldn’t have...
Full Access
Included:
-
Access to All Articles.
-
One Plan. No Tiers.
-
No Ads.
-
Cancel anytime.
