According to the Pentagon, the accounting miscalculation is about double that of prior projections, releasing additional cash for arms assistance.
Over the last two years, the US has overvalued the value of the weaponry it has provided to Ukraine by $6.2 billion, or about twice early predictions, resulting in a surplus that will be utilized for future security packages.
During an examination, “inconsistencies” in appraisals of equipment provided from the US since the Kremlin’s full-scale invasion of Ukraine in 2022 were discovered, said Sabrina Singh, deputy Pentagon press secretary, during a news conference on Tuesday.
“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,” Singh explained.
Oh no! A Pentagon account error just cost you, the taxpayer, another $6.2 billion. And it's going to..
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The estimate for the fiscal years 2022 and 2023 totaled $6.2 billion, according to the spokesperson.
Singh emphasized that the “valuation errors” did not limit Washington’s “provision of assistance to Ukraine.”
As a result, the department now has more money in its coffers to aid Ukraine in its counteroffensive against Russia.
And it comes as the fiscal year comes to an end and legislative money begins to decrease.
“It’ll just go back into the pot of money that we’ve set aside for future Pentagon stock drawdowns,” Singh explained./Aljazeera