Secretary Statements & Remarks

Statement by Secretary of the Treasury Janet L. Yellen on the Biden-Harris Administration’s Request for Emergency Supplemental Funding for Ukraine

WASHINGTON — Secretary of the Treasury Janet L. Yellen issued the following statement on the Biden- Harris Administration’s request for emergency supplemental funding for critical assistance to Ukraine.

“Today, the Biden-Harris Administration once again reaffirmed the United States’ unwavering support for Ukraine through an additional $14.5 billion supplemental request, which will primarily provide critical economic assistance to Ukraine for the first nine months of 2023. This support will help Ukraine mitigate the effects of Russia’s brutal and illegal war, in addition to bolstering energy and cyber security in the region and promoting global food security.  Ukraine faces significant financing needs to maintain essential government services and provide relief for the Ukrainian people, invest in critical infrastructure projects, and secure its energy demands.  The United States has been a leading partner to Ukraine— committing over $13 billion in economic assistance grants since the start of the war in addition to security assistance — and will continue to support the Government of Ukraine and its people as they bravely defend themselves against Russian aggression.  I welcome commitments from Ukraine’s allies and partners and call on them to step up and expedite additional financial support to Ukraine, particularly in the form of grants.  The Department of Treasury will also continue to employ all available tools to hold Russian authorities responsible for their illegal actions in Ukraine, including through sanctions that are denying Russia the military equipment they need to wage this illegal war, and through the price cap, which will cut into a primary source of Russia’s revenue while supporting stable energy supplies.”