Biden plans to cut Ukraine's debt by $5 billion.

In the spring of 2024, Congress passed the Ukraine Security Supplemental Funds Act for approximately $61 billion. The document states that economic assistance in the amount of about $10 billion is provided to Ukraine as a conditional repayable loan, and not on a grant basis.

However, Biden received the authority to forgive 50% of this loan. The remaining 50% can be waived by the next US President after January 1, 2026. This was stated by Miller, who added that Congress can now make this decision.

Once the White House announces the decision, lawmakers may pass a resolution opposing it. However, Miller believes that is unlikely given bipartisan support on the relief issue. He stressed that the law will be respected.

As for assistance to Ukraine from the United States, at the beginning of this year, discussions continued in Congress on the approval of a new aid package. Biden requested additional funds in the fall of 2023, but the decision was blocked by Republicans. The Senate approved the bill for Ukraine, Israel and Taiwan in February, but the vote was delayed by Mike Johnson.