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KYIV: The US is transferring a further $1 billion to Ukraine because it fights to withstand Russia’s invasion, US Treasury Secretary Janet Yellen stated Monday.
On a visit to Kyiv following US President Joe Biden’s shock go to final week, Yellen met with President Volodymyr Zelensky and introduced the switch of “a further quantity of over $1.2 billion” to the Ukrainian authorities.
This could be the primary tranche of about $10 billion the US will present within the coming months, she stated in a speech in Kyiv.
“Our financial assist helps maintain the Ukrainian authorities and important service suppliers operational below extraordinary circumstances,” together with by paying civil servants, firefighters and academics, she stated.
The US, Ukraine’s key monetary and army backer, has over the previous yr supplied Kyiv with practically $50 billion in help.
After his assembly with Yellen, Zelensky thanked Washington for “powerfully supporting us for the reason that first days of this battle not solely with weapons, but in addition on the monetary entrance”.
Ukraine has for years suffered endemic graft, and allies have pushed for progress to have the ability to proceed sending arms and monetary help.
In her speech, Yellen emphasised the significance of excellent governance, saying that “transparency and accountability will develop into much more essential as Ukraine rebuilds its infrastructure and recovers from the impacts of the battle”.
Yellen stated Washington would additionally press for “extra motion” from allies such because the Worldwide Financial Fund, whose managing director Kristalina Georgieva visited Kyiv final week.
“We anticipate to see the IMF transfer speedily towards establishing an bold and totally financed program,” Yellen stated.
She additionally stated Washington would focus this yr on disrupting Russia’s makes an attempt to evade Western sanctions.
“We’ll enhance coordination with our allies,” Yellen stated. “The US is not going to hesitate to make use of our authorities to disrupt entities that assist the Kremlin evade our sanctions.”
Ukraine’s allies have sought to make use of sanctions to choke off Russia’s potential to amass weapons or produce them utilizing imported elements.
On a visit to Kyiv following US President Joe Biden’s shock go to final week, Yellen met with President Volodymyr Zelensky and introduced the switch of “a further quantity of over $1.2 billion” to the Ukrainian authorities.
This could be the primary tranche of about $10 billion the US will present within the coming months, she stated in a speech in Kyiv.
“Our financial assist helps maintain the Ukrainian authorities and important service suppliers operational below extraordinary circumstances,” together with by paying civil servants, firefighters and academics, she stated.
The US, Ukraine’s key monetary and army backer, has over the previous yr supplied Kyiv with practically $50 billion in help.
After his assembly with Yellen, Zelensky thanked Washington for “powerfully supporting us for the reason that first days of this battle not solely with weapons, but in addition on the monetary entrance”.
Ukraine has for years suffered endemic graft, and allies have pushed for progress to have the ability to proceed sending arms and monetary help.
In her speech, Yellen emphasised the significance of excellent governance, saying that “transparency and accountability will develop into much more essential as Ukraine rebuilds its infrastructure and recovers from the impacts of the battle”.
Yellen stated Washington would additionally press for “extra motion” from allies such because the Worldwide Financial Fund, whose managing director Kristalina Georgieva visited Kyiv final week.
“We anticipate to see the IMF transfer speedily towards establishing an bold and totally financed program,” Yellen stated.
She additionally stated Washington would focus this yr on disrupting Russia’s makes an attempt to evade Western sanctions.
“We’ll enhance coordination with our allies,” Yellen stated. “The US is not going to hesitate to make use of our authorities to disrupt entities that assist the Kremlin evade our sanctions.”
Ukraine’s allies have sought to make use of sanctions to choke off Russia’s potential to amass weapons or produce them utilizing imported elements.
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