Monitoring Desk
KYIV: The United States (US) is transferring an additional $1 billion in aid to Ukraine as it fights to resist Russian invasion, said US Treasury Secretary Janet Yellen on Monday.
On a visit to Kyiv following US President Joe Biden’s surprise visit last week, Janet Yellen met with Ukrainian President Volodymyr Zelensky and announced the transfer of “an additional $1.2 billion” to the Ukrainian government.
This would be the first tranche of around $10 billion the US will provide to Kyiv in the coming months, Yellen said in a speech.
“Our economic support is helping the Ukrainian government and critical service providers operating under extraordinary circumstances,” including by paying firefighters, civil servants, and teachers, she said.
The United States, Ukraine’s critical financial and military backer, has provided Kyiv with nearly $50 billion in assistance over the past year.
After he met with Yellen, Zelensky thanked the US for “powerfully supporting us since the beginning of this war not only with weapons supply but also on the financial front.”
Ukraine has suffered endemic graft for years, and allies have pushed for progress to continue sending arms and financial assistance.
US to press allies for more action: Yellen
In her speech, Yellen emphasized the importance of good governance. She said that “accountability and transparency will become even more important as Ukraine reconstruct its infrastructure and recovers from the war’s impacts.”
Yellen said Washington would also press allies for “more action” such as the International Monetary Fund (IMF), whose managing director Kristalina Georgieva visited Ukraine last week.
“We expect to see the International Monetary Fund move speedily toward establishing a progressive and fully financed program,” Yellen said.
Janet Yellen also said Washington would focus on disrupting Russia’s attempts this year to evade Western sanctions.
“We will work on improving coordination with our allies,” Janet Yellen said. “The US will not hesitate to use our powers to disrupt those who help the Kremlin evade sanctions.”
Allies of Ukraine have sought to use sanctions to seize Russia’s ability to acquire weapons or produce them using imported components.
