Secretary of the Treasury Janet L. Yellen issued a statement on August 8, 2024, regarding the disbursement of $3.9 billion in direct budget support for Ukraine.
“Our economic assistance to Ukraine, including the $3.9 billion tranche disbursed last week, which was appropriated in the bipartisan National Security Supplemental, stabilizes Ukraine’s home front as it continues to defend itself against Russia’s illegal and unprovoked war,” Yellen stated. “With the entirety of Ukraine’s tax revenue going to the war effort, support from the United States and our allies and partners is crucial to equip first responders, keep hospitals and schools open, and maintain other essential government functions.”
Yellen emphasized that this financial support is conditioned on reforms aimed at increasing Ukraine’s economic resilience and improving governance. She expressed satisfaction with the transparency and accountability associated with this aid.
“Following Russia’s invasion, President Biden marshalled a historic multilateral response, and our partners have stepped up to provide nearly three-fourths of the budget support given to Ukraine,” Yellen continued. “The Treasury Department will continue to use all our tools to help Ukraine in its brave fight, including sustaining our historic sanctions and working to unlock the value of Russia’s immobilized sovereign assets.”
Yellen concluded by stating that a successful outcome for Ukraine would demonstrate U.S. resolve alongside its partners in defending democracy against authoritarian aggression, protecting the global economy, and reinforcing collective national security.
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