H.R. 2721: Ukraine Lend-Lease Accountability Act

This bill imposes certain requirements on the President's authority to lend or lease defense articles to Ukraine and other Eastern European countries affected by Russia's invasion of Ukraine.

Specifically, the bill removes two exemptions from the Ukraine Democracy Defense Lend-Lease Act of 2022. (The act, which authorizes lending or leasing of defense articles to Ukraine and other countries affected by the invasion, exempts from such transactions certain requirements that typically apply to lend-lease transactions.)

By removing these exemptions, the bill subjects the act's lend-lease authority to certain statutory requirements including that (1) the loan period be of a fixed duration not exceeding five years, during which the defense article may be recalled for any reason; and (2) the recipient country agrees to pay all costs incurred in leasing such defense articles, including costs associated with replacing lost or destroyed articles.

Written by the Congressional Research Service, Library of Congress.