US Treasury Secretary: The world economy will benefit from a doubling of aid to Ukraine

Doubling aid to war-torn Ukraine is the best way to help the global economy, said US Treasury Secretary Janet Yellen.

Yellen spoke about it on Sunday, on the sidelines of the G20 summit of finance ministers in India, European Pravda reports, citing the AFP bureau. The American politician said that “redouble our support for Ukraine, which is defending itself against Russia, is a top priority”.

After a visit to Kiev in February, Janet Yellen said she had seen firsthand the huge difference foreign aid had made to both the civilian population and the Ukrainian military. “Ending this war is first and foremost a moral imperative,” Yellen now told reporters, adding, “But it is also the best thing we can do for the global economy.

Keeping the economy going strengthens resistance to Russia

The Russian invasion of Ukraine created a crisis in the world economy, sending food and fuel prices skyrocketing. “Budget support is crucial to Ukraine’s resistance,” Yellen said. “By helping to maintain the economy and government, we are giving Ukraine the support it needs to fight for its freedom and sovereignty,” said the finance minister. She added that one of Washington’s “primary goals” is “to counter Russia’s attempts to circumvent our sanctions.”

Janet Yellen also stated that she would favor a compromise between support for Ukraine and support for the countries of the “global South”.

At the NATO summit in Vilnius, the G7 countries agreed on a framework document on “security guarantees” for Ukraine. Leaders agreed on a framework rather than specific parameters for “security guarantees”, and detailed bilateral agreements will be signed later. Ukrainian President Volodymyr Zelensky expects four to five more countries to join the initiative. The Czech Republic has already made such a statement.

Source: Do Rzeczy