The Pentagon reported an accounting error which overestimated the value of weapons sent to Ukraine by $6.2 billion over the last two years. This error was due to the military services using replacement costs rather than the book value of equipment. The excess funds will now be used for future security packages to aid Ukraine in its counteroffensive against Russia.
Key Points:
- The error in estimation resulted from using replacement costs instead of the book value of equipment pulled from Pentagon stocks and sent to Ukraine.
- The final calculations showed an overestimation of $3.6 billion in the current fiscal year and $2.6 billion in the 2022 fiscal year.
- The surplus will be redirected to future security packages to support Ukraine in its counteroffensive against Russian forces.
- The U.S. has committed more than $40 billion in security assistance to Ukraine since Russia’s invasion, but with the new calculations, it provided less than $34 billion.
- Despite the accounting mistake, the Pentagon confirmed it won’t affect the ongoing delivery of aid to Ukraine.
Continue reading at https://apnews.com/article/ukraine-russia-war-weapons-surplus-funding-72eeb6119439146f1939d5b1973a44ef#
