Biden to cancel $4.7B in Ukrainian debt as time in office nears end

Nov 21, 2024

Listen

Ryan Robertson Anchor

By Ryan Robertson (Anchor), Evan Hummel (Producer), Jake Larsen (Video Editor)

With just weeks left in his presidency, President Joe Biden is working to secure support for Ukraine before President-elect Donald Trump takes office on Jan. 20. As he hits the lame-duck portion of his presidency, Biden announced on Wednesday, Nov. 20, the forgiveness of $4.7 billion in Ukrainian debt.

Bias Distribution Powered by Ground News™

The president does have the authority to forgive the debt due to U.S. Congress granting him the power in an April funding bill that approved $9.4 billion in loan forgiveness.

Download the SAN app today to stay up-to-date with Unbiased. Straight Facts™.

Point phone camera here

The move by Biden is important to the White House because some within the administration are reportedly concerned Trump could limit U.S. funding for the war.

The White House and Ukraine said the loan forgiveness will give Ukraine the ability to maintain its defense while keeping government functions intact.

However, some Republicans have issues with the plan. They argue loan forgiveness before leaving office won’t have the proper oversight and sets a bad precedent for lame-duck presidential actions.

Other actions taken by the Biden administration recently include shipping anti-personnel land mines to Ukraine and authorizing Ukraine’s armed forces to strike targets in Russia with long-range ATACMS.

The White House says its decisions are in response to Moscow using around 10,000 North Korean troops to clear Ukrainian forces out of the Kursk region.

Tags: Donald Trump, Joe Biden, Kyiv, Moscow, Presidential Campaign, Russia, Russia-Ukraine War, Russian Defense Ministry, Ukraine, Ukraine aid, Ukraine Defense Ministry, Vladimir Putin, Volodymyr Zelenskyy, Washington DC, White House

[RYAN ROBERTSON]

PRESIDENT BIDEN’S TIME IN OFFICE IS ALMOST OVER–BUT WHEN IT COMES TO UKRAINE–THE LAME DUCK PRESIDENT HAS BEEN A BUSY BEAVER.

HIS LATEST MOVE INCLUDES FORGIVING NEARLY 5 BILLION DOLLARS IN UKRAINIAN DEBT.

PRESIDENT BIDEN DOES HAVE THE AUTHORITY TO FORGIVE THE DEBT, BECAUSE CONGRESS GAVE IT TO HIM WHEN IT APPROVED UP TO 9 BILLION DOLLARS IN LOAN FORGIVENESS IN ITS APRIL FUNDING BILL. THE MOVE ALSO MATTERS BECAUSE A LOT OF PEOPLE IN AND OUT OF D-C ARE CONCERNED THE INCOMING TRUMP ADMINISTRATION COULD LIMIT U-S FUNDING FOR KYIV’S WAR TO REPEL MOSCOW.

THE WHITE HOUSE AND UKRAINE SAY THE LOAN FORGIVENESS WILL GIVE UKRAINE THE ABILITY TO MAINTAIN ITS DEFENSE WHILE KEEPING GOVERNMENT FUNCTIONS INTACT.

WHILE CONGRESS DOES HAVE THE POWER TO OVERTURN BIDEN’S REQUEST, THE STATE DEPARTMENT SAYS IT EXPECTS LAWMAKERS TO SUPPORT THE DEBT CANCELLATION.

TO NO ONE’S SURPRISE, SOME REPUBLICANS ARE VOICING CONCERNS.

ARGUING THE LOAN FORGIVENESS BEFORE LEAVING OFFICE WON’T HAVE THE PROPER OVERSIGHT AND SETS A BAD PRECEDENT FOR LAME-DUCK PRESIDENTIAL ACTIONS.

OTHER LAME-DUCK ACTIONS TAKEN BY BIDEN INCLUDE SHIPPING ANTI-PERSONAL LAND MINES TO UKRAINE AND AUTHORIZING UKRAINE’S ARMED FORCES TO STRIKE TARGETS IN RUSSIA WITH LONG-RANGE ATACMS.

THE BIDEN ADMINISTRATION SAYS ITS DECISIONS ARE IN RESPONSE TO MOSCOW USING AROUND 10-THOUSAND NORTH KOREAN TROOPS TO CLEAR UKRAINIAN FORCES OUT OF THE KURSK REGION.

FOR MORE ON THIS STORY– DOWNLOAD THE STRAIGHT ARROW NEWS APP OR VISIT SAN DOT COM.

FOR STRAIGHT ARROW NEWS– I’M RYAN ROBERTSON.