The approval comes as the nation has signed off on $1.5 billion for overseas oil and gas projects so far this year, even though it pledged to stop doing so by the end of 2022.
Despite President Joe Biden's commitment to end investments in overseas fossil fuel projects, the U.S. Export-Import Bank on Thursday agreed to fund the Liwathon oil tank project in Estonia.The decision comes on top of the $1.5 billion that the U.S. has already promised to overseas oil and gas developments in 2023, in violation of a 2022 deadline to end international fossil finance.'President Biden cannot claim climate wins while his U.S.
program manager at Oil Change International, said in a statement, calling the approval 'yet another setback for President Joe Biden's climate commitments.' 'Despite lofty promises and international agreements, Biden continues to approve projects that exacerbate our climate crisis and threaten communities,' Rees continued.
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