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Pentagon says it overestimated war aid sent to Ukraine by $6.2 Billion due to “accounting error”

Pentagon spokeswoman Sabrina Singh said, “In a significant number of cases, services used replacement costs rather than net book value, thereby overestimating the value of the equipment drawn down from US stocks and provided to Ukraine.”

On the 20th of June, the Pentagon found that it overestimated the amount of funding for weapons it sent to Ukraine by $6.2 billion due to an “accounting error”. Speaking to the media, Pentagon spokeswoman Sabrina Singh revealed this accounting error and explained the reason behind it. 

She stated that the department overestimated the value of the weapons it had sent to Ukraine over the past two years. This has resulted in a surplus, which the department claims will be used for future security packages.

Singh said, “In a significant number of cases, services used replacement costs rather than net book value, thereby overestimating the value of the equipment drawn down from US stocks and provided to Ukraine.”

She noted that the latest calculations indicate an error of $3.6 billion in the current fiscal year and $2.6 billion in the previous fiscal year, which ended on September 30th, 2022.

Earlier, in May, the Pentagon had estimated that it made an accounting error of $3 billion. However, the recent announcement made by Singh clearly indicates that the situation was far worse than the Pentagon stated earlier and the accounting error was far higher than previously estimated in May.

However, Singh asserted that these valuation errors would in no way limit or restrict the size of any of our PDAs or impact the provision of support to Ukraine.

As stated above, the department now has additional money in its coffers that can be used to support Ukraine. Currently, Ukraine is engaging in a counteroffensive against Russia. 

US Assistance to Ukraine

On the 13th of June, the US announced that it committed more than $40 billion in security assistance to Ukraine since Russia launched an assault on Ukraine. But after this new revelation, it is clear that the U.S. has actually provided less than $34 billion in aid to the Ukrainian people.

So far, the Biden administration has approved four rounds of aid to Ukraine to counter Russia. The combined value of all four assistance packages is reportedly $113 billion. However, not all of it has been sent to Ukraine, some of it was allocated toward replenishing U.S. military equipment which was sent to the frontlines earlier. 

In December, the US Congress approved the last round of aid amounting to $45 billion for Ukraine and its NATO allies. Congress designed the aid package to last for the current financial year. However, analysts suggest that it may be fully utilised before the year’s end due to the evolving situation on the ground in Ukraine.

On several occasions, President Joe Biden and his administration have repeatedly announced that the United States will keep helping Ukraine “as long as it takes” to repel the Russian forces from the Ukrainian territory.

Ayodhra Ram Mandir special coverage by OpIndia

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OpIndia Staff
OpIndia Staffhttps://www.opindia.com
Staff reporter at OpIndia

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