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Pentagon accounting error overestimates value of weapons sent to Ukraine by $6.2 billion - Joggingvideo.com
17.8 C
New York
Thursday, June 13, 2024

Pentagon accounting error overestimates value of weapons sent to Ukraine by $6.2 billion

The Pentagon said an accounting error resulted in an overestimation of the value of weapons being sent to Ukraine by $6.2 billion over the last two years, and as a result, there is a surplus of money available for future security packages.

Pentagon spokesperson Sabrina Singh told reporters on Tuesday the accounting error was the result of military services using replacement costs instead of the book value of equipment sent to Ukraine.

Final calculations, she added, showed that in the current fiscal year there was an error of $3.6 billion, and in 2022 there was an error of $2.6 billion.

The discovery comes as fiscal year 2023 nears an end, and it allows the Pentagon to have an extra stash of money to support Ukraine’s counteroffensive against Russia.

UKRAINE CLAIMS TO HAVE CAPTURED ANOTHER VILLAGE AS HIGHLY ANTICIPATED COUNTEROFFENSIVE UNDERWAY

View of the Pentagon for the sky

The Pentagon in Washington, DC, on May 10, 2023, in an aerial view.  (DANIEL SLIM/AFP via Getty Images)

As for the exact amount of money available for drawdowns and the Ukraine Security Assistance Initiative, officials have not been able to provide a firm number.

The Ukraine Security Assistance Initiative provides long-term funding for purchases like larger air defense systems.

In defense, Pentagon officials say a “robust program” is in place to track all aid as it enters Ukraine, keeping track of it while there.

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The accounting error, though, according to Singh, will not affect the U.S. delivery of aid to Ukraine.

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