Biden Administration To Forgive $4.7 Billion In US Loans To Ukraine

The Biden administration has moved to forgive $4.7 billion in US loans to Ukraine, part of a $9.4 billion package for economic support passed in April. The step, taken before officials leave office, is aimed at bolstering Ukraine’s defense against Russia. While Congress could block it, the Senate will vote on a motion of disapproval by Senator Rand Paul, a critic of US aid to Ukraine.