Cancelling Ukraine's Debt

Hi Global Recap readers,

President Biden is making some bold moves during his lame-duck period, before President Trump takes office.

It looks like he’s not just focused on canceling student loan debt for Americans, but also on wiping out Ukraine’s aid debt.

Meanwhile: the US national debt has just surpassed $36 trillion.

🇺🇸 UNITED STATES
Biden Seeks to Cancel Ukraine’s Debt

US President Joe Biden is making a bold move to cancel half of Ukraine’s economic aid debt, totaling around $4.65 billion. This comes as part of a larger effort to support Ukraine before the presidential transition to Donald Trump.

Biden’s Debt Cancellation Plan

• The debt cancellation is part of a $61 billion supplemental security assistance package provided to Ukraine in April.

• The package included about $10 billion in economic aid as a loan, with Biden having the authority to forgive up to 50 percent of it.

Congressional Approval

But it is too early to celebrate for the supporters of this plan. Congress still has the option to overturn Biden’s request.

• US State Department spokesperson Matthew Miller expressed confidence that Congress would support the debt cancellation.

• Miller noted the overwhelming bipartisan support in Congress for providing assistance to Ukraine.

Timing and Transition

The Biden administration is working quickly before Trump takes office.

• Biden has promised to deliver the remaining $6 billion in allocated aid to Ukraine before Trump’s inauguration.

• The administration has also approved the delivery of anti-personnel land mines to Ukraine and authorized Kyiv to strike targets in Russia with long-range ATACMS missiles.

Strategic Support

Biden’s actions are part of a broader strategy to support Ukraine.

• The administration is focused on shoring up support for Kyiv amid ongoing Russian aggression.

• These efforts are aimed at ensuring Ukraine has the resources and support needed to defend itself and maintain stability in the region.

🇪🇸 SPAIN
Spain Legalizes Illegal Immigrants

Yeah, I know the title seems contradictory, but it’s true.

Spain is planning to give residency and work permits to about 300,000 illegal immigrants every year for the next three years, all to help boost its aging workforce.

🤔 Personally: Forget the moral side of things for a second—this makes it more tempting for people to enter the country illegally. Sure, it’s still more favorable (though tougher) to immigrate legally, but this move blurs the lines between the two options ever so slightly.

New Policy

• The policy will take effect in May.

• Currently, Spain needs about 250,000 registered foreign workers annually to maintain its welfare state.

• For comparison: In 2023, Spain issued 1.3 million visas to foreigners.

Government's Stance

Despite people’s concerns, the government highlights the policy’s cultural and economic benefits. I guess this is just another way of saying immigration is good for “cultural enrichment”?

• Migration Minister Elma Saiz stated the policy is about “cultural wealth and respect for human rights” as well as prosperity.

• Prime Minister Pedro Sánchez has highlighted the policy as a solution to Spain's low birthrate.

✅ Factoid: The issue of declining birth rates in developed countries is becoming a more prominent topic of conversation. Essentially, governments made a lot of promises, but with birth rates dropping, those promises are starting to seem less and less achievable.

Policy Details

The policy reportedly simplifies administrative procedures and extends visas.

• It simplifies procedures for short and long-term visas and provides additional labor protections.

• A visa previously offered to job-seekers for three months will now be extended to one year.

Migrant Workforce

Illegal immigrants often work in essential but low-paid jobs.

• Many work as fruit pickers, caretakers, and delivery drivers.

• Without legal protections, they are vulnerable to exploitation and abuse.

Preventing Abuse

The policy aims to combat exploitation and fraud.

• Saiz stated it would help prevent abuse and combat mafias and fraud.

• The policy is expected to provide better protections for illegal immigrant workers.

🇺🇦 UKRAINE
Ukraine Strikes Putin’s Estate

Here’s another first by Ukraine:

Following their first use of American long-range ATACMS missiles, Ukraine used British Storm Shadow missiles to target Russian military sites (for the first time), including an estate managed by Vladimir Putin in the Kursk region.

Suspected Target: Putin-Connected Command Post

The target may have been an underground command post associated with the Russian military leadership, including North Korean generals.

• The strike occurred near the Baryatinsky estate, which functions as a resort under the authority of the Russian President's Affairs Administration.

• Unconfirmed reports suggest the target was a "communications node" or military facility in the eastern part of the resort.

Storm Shadow Missiles Deployed

The UK provided Ukraine with long-range Storm Shadow missiles last year, which were adapted for use on Ukrainian Su-24M aircraft.

• Previously, Ukraine was prohibited from using these missiles to strike Russian territory.

• However, recent reports indicate the UK, France, and US have now given Ukraine the green light to use Storm Shadow missiles deep into Russia.

Expanding Ukraine's Counteroffensive

This strike in Kursk could mark a significant escalation in Ukraine's counteroffensive efforts.

• It demonstrates Ukraine's ability to hit targets well inside Russia, potentially disrupting Russian military command and control.

• The use of advanced Western-supplied weapons like Storm Shadow missiles suggests Ukraine is expanding the scope and intensity of its attacks.

Potential Implications

This attack in Kursk could have far-reaching strategic implications for the war in Ukraine.

• It may prompt Russia to bolster air defenses and security around key military sites.

• The strike also highlights Ukraine's growing capabilities and willingness to take the fight deep into Russian territory.

🇬🇧 UK’s comments: Downing Street, the Ministry of Defense, and the Foreign Office declined to comment for “operational reasons.”

US Embassy Closure

Incidentally, the US embassy in Kyiv closed temporarily due to Russian air attack threats.

• The embassy shut its doors on Wednesday as a precaution but reopened on Thursday.

• Other embassies, including Italian, Spanish, and Greek, also closed temporarily.

🇺🇸 UNITED STATES
US Vetoes UN Resolution

The Biden administration has just vetoed a UN Security Council draft resolution against Israel, arguing it would embolden Hamas and fail to secure the release of hostages.

The Veto

The resolution demanded an unconditional ceasefire in Gaza.

• Sponsored by Algeria, it demanded an “immediate, unconditional and permanent cease-fire” on Israel.

• The resolution did not guarantee the release of hostages held by Hamas.

• It was supported by 14 out of 15 council members but was blocked by the US.

• US Ambassador Robert A. Wood criticized the resolution for favoring Hamas over the release of hostages.

Ambassador Wood's Critique

• He argued that the resolution would allow Hamas to retain power in Gaza.

• Wood emphasized that the US could not support an unconditional ceasefire that did not ensure the release of hostages.

Hostage Situation

The hostage crisis remains unresolved.

• Hamas has held over 100 hostages, including seven Americans, for 410 days.

• Wood highlighted Hamas's rejection of multiple negotiation deals.

International Reactions

Mixed responses from other nations.

• French Ambassador Nicolas de Rivière expressed regret over the resolution's failure.

• He stressed the worsening humanitarian situation in Gaza and called for an immediate ceasefire.

🇵🇰 PAKISTAN
Suicide Bombing Kills 12 Troops

A horrific suicide bombing in Pakistan's Khyber Pakhtunkhwa province has claimed the lives of 12 troops, with militants being blamed for the attack.

The Attack

A suicide car bomber targeted a security post.

• The bombing occurred on Tuesday evening in the Bannu district.

• The attacker detonated the explosive-laden vehicle against the perimeter wall after failing to infiltrate the post.

• The blast resulted in the “martyrdom” of 12 security personnel and extensive damage to the wall.

Militant Response

Militants engaged in a gunfight following the bombing.

• Six militants, described as “khwarij” (a term for Pakistani Taliban fighters), were killed in the exchange.

• The Hafiz Gul Bahadur faction of the Pakistani Taliban claimed responsibility for the attack.

Rising Violence

Pakistan has seen a surge in militant violence.

• The Tehrik-e-Taliban Pakistan (TTP) ended its ceasefire with Islamabad in November 2022.

• The TTP, emboldened by the Taliban's 2021 takeover of Afghanistan, operates with impunity.

• In December 2023, a similar suicide bombing in Dera Ismail Khan killed 23 troops.

Government Response

High-level discussions were held in Islamabad.

• Prime Minister Shehbaz Sharif approved a “comprehensive military operation” against separatist and militant groups.

• This directive followed a November suicide attack at a Quetta train station that killed 26 people.

Political Turmoil

Pakistan's political instability complicates efforts to address violence.

• Former Prime Minister Imran Khan's removal in 2022 and his imprisonment in 2023 have deepened national divisions.

• This instability hampers unified responses to the insurgency, leaving security forces to contend with an increasingly emboldened enemy.