< Back

The US wants to give aid to Ukraine on credit, but it may be cut off

Apr 18, 2024

The President of the United States of America will have the right to write off the funds to be provided to Ukraine as financial assistance.


This was reported by RBC-Ukraine with reference to the relevant bill.

According to the initiative of Speaker of the US House of Representatives Mike Johnson, it is proposed to allocate $7.8 billion in direct financial assistance to Ukraine on credit.

However, the bill contains a clause that allows the US president to write off half, and later the entire amount of financial assistance to be provided to Ukraine.

In particular, after November 15, 2024, the president will be able to write off up to half of the debt after submitting a justification to Congress. And starting January 1, 2026, the president will have the right to write off the entire debt.

It should be noted that the US will hold presidential elections in November 2024. Therefore, it is not yet known who will decide whether the loan to Ukraine will be written off or not.

Author - Serhii Kolomiets, 18/04/2024

Recent news