Pentagon acknowledges $3 billion accounting error in Ukraine aid

Pentagon acknowledges $3 billion accounting error in Ukraine aid | 18 May 2023 | Through an accounting error, the Pentagon overestimated the value of the security aid it has sent to Ukraine in its fight against Russia, according to several news reports. The error was an overestimation by $3 billion, which Defense officials attributed to a mistake over using cost estimates based on new equipment rather than the older versions delivered to Ukraine. Essentially, Pentagon officials used replacement cost to value the weapons rather than the value of the weapons through purchase and depreciation. The mistake was discovered in March after an internal security audit and congressional lawmakers were briefed on the issue on Thursday.