Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility 
South Korea Assures U.S. on Trade Deal Commitments Amid Tariff Concerns 
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal 
Oil Prices Slip as U.S.–Iran Talks Ease Supply Disruption Fears 
Iran–U.S. Nuclear Talks in Oman Face Major Hurdles Amid Rising Regional Tensions 
Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election 
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility 
Japan Economy Poised for Q4 2025 Growth as Investment and Consumption Hold Firm 
Trump Says “Very Good Talks” Underway on Russia-Ukraine War as Peace Efforts Continue 
Newly Released DOJ Epstein Files Expose High-Profile Connections Across Politics and Business 
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
U.S. Stock Futures Slide as Tech Rout Deepens on Amazon Capex Shock 
U.S. Announces Additional $6 Million in Humanitarian Aid to Cuba Amid Oil Sanctions and Fuel Shortages 
Thailand Inflation Remains Negative for 10th Straight Month in January 
New York Legalizes Medical Aid in Dying for Terminally Ill Patients 
Norway Opens Corruption Probe Into Former PM and Nobel Committee Chair Thorbjoern Jagland Over Epstein Links 
Gold and Silver Prices Slide as Dollar Strength and Easing Tensions Weigh on Metals 
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.
