G’s attempt to prevent Biden from writing off Ukraine’s $4.6B debt fails in Senate

The U.S. Senate did not support the initiative put forward by Senator Rand Paul, who tried to block President Biden's decision to write off half of Ukraine's debt for a loan provided as economic aid.

The voting took place overnight Thursday, an Ukrinform correspondent reports.

The Republican senator's resution saw support from only 37 legislators, all Republican senators. Sixty-one senators spoke against it, and two did not vote.

As Ukrinform reported earlier, on Wednesday the U.S. Department of State confirmed that the Biden administration had taken the first step to cancel neatly $4.6 billion in Ukraine’s debt.

Read also: IMF to decide on next tranche for Ukraine within EFF in coming weeks

The money was provided after the $61 billion aid package was approved in April. The document provided for the allocation of about $9.4 billion to Ukraine in the form of loans that can be written off, for economic and budgetary support. Half of this amount could be canceled by the U.S. president after November 15.

By procedure, he had to inform the U.S. Senate of his intention. At the same time, legislators could reject the move by passing a corresponding resution.

Source: ukrinform.net

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