US Treasury secretary visits Kyiv, announces additional $1.2B in aid

ISTANBUL

Visiting Ukraine's capital Kyiv on Monday, US Treasury Secretary Janet Yellen announced an additional $1.2 billion in aid for the war-torn country.

"That’s the first tranche of about $10 billion in direct budget support that the United States will provide in the coming months," she said in a statement released by the Treasury Department.

Yellen said the US economic support is helping keep the Ukrainian government and critical service providers operational and strengthening the country's resistance in the face of the war launched by Russia a year ago.

She said the US is working with its partners through the European Bank for Reconstruction and Development to keep basic infrastructure and supply chains working, as well as the World Bank, the European Commission, and the rest of the G-7 members, stressing that the US expects to see the IMF move speedily toward establishing an ambitious and fully financed program.

"We will not rest until the war ends," Yellen said about Washington's wide-ranging sanctions on Russia, stressing that the US will not hesitate to its authorities to disrupt entities that help the Kremlin evade sanctions.

Yellen met with Ukrainian President Volodymyr Zelenksyy, affirming the first transfer of $1.25 billion out of $9.9 billion in US budget support to be provided over the first three quarters of 2023.

"The Secretary expressed that the United States will continue to stand with Ukraine for as long as it takes as it defends against Russia’s attacks and begins to rebuild a prosperous and free Ukraine," the Treasury Department said in a separate statement.

Yellen laid a wreath in Kyiv's St. Michael's Square, in honor of Ukrainians who lost their lives during the war, and said: "We will continue to work with our international coalition to provide military, economic, and humanitarian assistance to Ukraine. And we will continue to impose severe costs on the Kremlin for its illegal war."

She also met with Ukrainian Prime Minister Denys Shmyhal, and said the US has so far provided close to $50 billion in total for security, economic, and humanitarian assistance to Ukraine.

For economic assistance, the US has provided over $14 billion, while it will provide an additional over $8 billion in economic support in the coming months, she said.