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A second massive accounting error, which occurred a month after a $3 billion accounting mistake, the Pentagon reported that it overstated the value of weapons supplied to Ukraine by some $6.2 billion.
According to Pentagon spokeswoman Sabrin Singh, a detailed review of the accounting error found that replacement costs for equipment, weapons, and munitions that were provided to Kyiv over a 2-year period were recorded for the equipment, not the net book value of items removed from Pentagon stockpiles and sent to Ukraine. Final calculations have revealed a $3.6 billion error in the current fiscal year's accounting on top of a $2.6 billion error in 2022 FY, which ended September 30.
The Pentagon now has additional funding to send to Ukraine as Kyiv begins to get its counteroffensive off the ground and congressional funding was beginning to dwindle as there are only 4 months left before the fiscal year-end.
Singh explained that "It's just going to go back into the pot of money that we have allocated" for future Pentagon stock drawdowns.
While the Pentagon has trouble tracking its funds, the Biden administration has no issue spending money as the Congrees approved its fourth round of funding for Ukraine in December totaling about $45 billion, which brings the total provided to Kyiv thus far to roughly $113 billion - assuming the accounting was done correctly.
Meanwhile, ZeroHedge notes that officials have still not provided specific totals for how many funds remain for the Ukraine Security Assistance Initiative drawdowns, which are meant to provide long-term funding for the purchase of weapons.
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