READOUT: Secretary of the Treasury Janet L. Yellen’s Virtual Meeting with Prime Minister Denys Shmyhal of Ukraine

WASHINGTON – Today, U.S. Secretary of the Treasury Janet L. Yellen met virtually with Ukrainian Prime Minister Denys Shmyhal.  Secretary Yellen reaffirmed the United States unwavering support to Ukraine in its defense against Putin’s brutal invasion.  Secretary Yellen recognized Ukraine’s successful IMF review in December and the effective work of Ukrainian authorities in managing Ukraine’s economy and progress on reforms despite pressures from Russia’s war. Secretary Yellen reiterated the Administration’s ongoing efforts to secure $11.8 billion in direct budget support as part of the national security supplemental request before Congress and underscored the importance of Congress acting on financial support for Ukraine as quickly as possible.   

U.S. budget support, which has an unprecedented level of oversight and transparency, helps support Ukraine’s home front in its resistance to Russia’s illegal invasion by maintaining vital government operations, such as keeping hospitals and schools open, and supporting first responders in Ukraine. This allows Ukraine to focus all its financial resources on its defense against Russia. U.S. leadership in providing Ukraine direct budget support also continues to catalyze other donors resulting in roughly three quarters of Ukraine’s external financing needs in 2024 coming from sources other than the United States.  

Financial support to Ukraine remains inextricably linked to its success on the battlefield.  A successful Ukraine will demonstrate the resolve of the United States and its partners to defend the territorial sovereignty and fundamental freedoms of democratic countries against authoritarian aggression.  Providing financial support to Ukraine will help Ukraine win the war and advance U.S. national security interests globally.

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