The U.S. Department of Defense on Tuesday said it has overcounted the value of the weapons it sent to Ukraine over the past two years by $6.2 billion.
This error occurred because U.S. military officials didn’t count the actual value of what was pulled from the Pentagon’s weapons stockpile and sent to Ukraine but instead used the value of replacing those weapons, according to deputy Pentagon press secretary Sabrina Singh. Newly produced weapons typically cost more than the excess old ones they will replace.
“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 U.S. stocks and provided to Ukraine,” the spokeswoman said….