WASHINGTON – Secretary of the Treasury Janet L. Yellen issued the following statement on the disbursement of $3.4 billion in direct budget support for Ukraine:
Our direct budget support to Ukraine arrives at a critical time as Russia intensifies its attacks on Ukrainian civilians and critical infrastructure. Economic assistance from the United States and our allies is crucial for Ukraine’s ability to defend its sovereignty and achieve a just peace by maintaining the critical government services that underpin its brave fight.
In coordination with the U.S. Agency for International Development and the Department of State, this $3.4 billion in assistance marks the final disbursement of funds appropriated under the bipartisan Ukraine Security Supplemental Appropriations Act, 2024. Our direct budget support continues to be conditioned on reforms related to strengthening law enforcement, improving transparency and efficiency of government institutions, and bolstering anti-corruption rules and procedures.
This disbursal follows the United States’ execution of our portion of the $50 billion G7 Extraordinary Revenue Acceleration loan initiative for Ukraine, paid for by the windfall proceeds earned from Russia’s own immobilized assets. Taken together, we are sending a clear message to Russia that it will increasingly bear the costs of its illegal war – not American and coalition taxpayers.
Ukraine’s success is in America’s core national interest. Stopping Russia’s illegal invasion will help uphold a global democratic, rules-based, order that advances American security and economic interests, and it will send an unmistakable message to autocrats and would-be aggressors around the world that they will face unshakeable resolve. We must not retreat in this effort. Together with the security assistance America is providing Ukraine and Treasury’s actions to further tighten sanctions on Russia’s war machine, we will continue to do everything in our power to position Ukraine to achieve a just peace.
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