White House requests $4.65 billion debt cancellation for Ukraine

The Joe Biden administration has formally requested Congress to cancel approximately $4.65 billion of Ukraine’s debt, State Department spokesperson Matthew Miller announced during a briefing.

The debt is part of a $10 billion economic aid package provided to Ukraine under a spring Congressional law, which allocated $61 billion in total security and financial support. Half of the loan can be forgiven at the president's discretion, while the remainder could be canceled by the next administration after January 1, 2026.

"Some of that was provided in the form of loans. We have the option under the bill to cancel those loans at our discretion," Miller stated, noting the administration has informed Congress of the decision.

While Miller expressed optimism about bipartisan support for Ukraine, he acknowledged that lawmakers might resist the initiative.

"I would be surprised that Congress takes that step given the overwhelming support in Congress to provide that assistance but we will follow along," he said.

On November 14, 2024, Bloomberg reported that Europe is making a final appeal to the Biden administration to step up support for Ukraine to bolster Kyiv's position before his presidential term ends in January.

On November 20, The Washington Post reported that Biden had approved the provision of anti-personnel mines to Ukraine.

In the evening of the same day, the United States announced a new military aid package worth $275 million to Ukraine.