Trump Family Files $10 Billion Lawsuit Over IRS Tax Disclosure 
Pierre Poilievre Retains Conservative Leadership After Election Defeat in Canada 
Dollar Struggles as Policy Uncertainty Weighs on Markets Despite Official Support 
South Korea Industry Minister Heads to Washington Amid U.S. Tariff Hike Concerns 
Trump’s Iraq Envoy Mark Savaya Ousted Amid U.S.-Iraq Tensions Over Iran Influence 
China Factory Activity Slips in January as Weak Demand Weighs on Growth Outlook 
India Budget 2026: Modi Government Eyes Reforms Amid Global Uncertainty and Fiscal Pressures 
Trump Threatens Aircraft Tariffs as U.S.-Canada Jet Certification Dispute Escalates 
Syria-Kurdish Ceasefire Marks Historic Step Toward National Unity 
Venezuela Proposes Amnesty Law and Plans to Transform Helicoide Prison 
Democrats Question Intelligence Chief’s Role in FBI Georgia Election Raid 
U.S.–Venezuela Relations Show Signs of Thaw as Top Envoy Visits Caracas 
Panama Supreme Court Voids CK Hutchison Port Concessions, Raising Geopolitical and Trade Concerns 
Russia Stocks End Flat as MOEX Closes Unchanged Amid Mixed Global Signals 
Asian Currencies Hold Firm as Dollar Rebounds on Fed Chair Nomination Hopes 
U.S. Eases Venezuela Oil Sanctions to Boost American Investment After Maduro Ouster 
Oil Prices Hit Four-Month High as Geopolitical Risks and Supply Disruptions Intensify 
The Biden administration forgave $4.7 billion in loans to Ukraine, State Department spokesman Matthew Miller said. Aimed at bolstering Ukraine against Russia, the move comes as officials expedite aid before leaving office. Congress could still block the loan forgiveness.
Biden Administration Moves to Forgive $4.7 Billion in Ukraine Loans
In an effort to help Ukraine in its conflict with Russia, the Biden administration is moving to cancel approximately $4.7 billion in U.S. loans to the country, according to State Department spokesperson Matthew Miller. Reuters reports that this move comes as the outgoing officials try to do all they can before leaving office.
Just over $9.4 billion in forgiven loans were included in the U.S. financing bill that Congress passed in April to help the Ukrainian government with their budget and economy. The president has until November 15 to decide whether to rescind half of these loans.
With the passage of this measure, a total of $61 billion was allocated to assist Ukraine in its struggle against the full-scale invasion that Moscow initiated in February of 2022.
State Department Confirms Loan Forgiveness Action
According to Miller, who was speaking at a press briefing, "We have taken the step that was outlined in the law to cancel those loans," and he said that the step was taken in the most recent instances.
According to Miller, Congress still has the ability to thwart the action.
Republican Senator Rand Paul, who has been vocal in his criticism of U.S. backing for Ukraine, has proposed a resolution to disapprove of student debt forgiveness for Ukraine. Per Investing.com, the Senate is scheduled to vote on this motion later on Wednesday. Help for Ukraine has the backing of most senators on both sides of the aisle.
Biden Administration Prepares for Transition Amid Ukraine Aid Concerns
Concerned that President-elect Trump may limit U.S. support, Vice President Joe Biden has instructed officials to expedite the shipment of aid to Ukraine before his departure from office on January 20.
