President Biden has signed into law a bill that will authorize the administration to lease or lend military equipment to Ukraine and other countries in Eastern Europe through fiscal year 2023, DOD News reported Monday.
The Ukraine Democracy Defense Lend-Lease Act of 2022 would exempt the administration from certain law provisions that regulate the lease or loan of defense equipment to foreign countries.
One of those provisions is the five-year limit on the loan’s duration or the requirement that foreign countries pay all costs that U.S. incurred in leasing the military equipment.
“I’m signing a bill that provides another important tool in our efforts to support the government of Ukraine and the Ukrainian people in their fight to defend their country and their democracy against Putin’s brutal war,” Biden said Monday at the Oval office.
“And the cost of the fight is not cheap, but caving to aggression is even more costly. That’s why we’re staying in this,” he added.