US Treasury Secretary Janet Yellen has announced the disbursement of US$3.4 billion in direct budget support to Ukraine.

Source : European Pravda with reference to the US Treasury Department

Details : Yellen said on Monday that Ukraine needs critical resources amid intensified Russian attacks on civilians and critical infrastructure.

"Our direct budgetary support for Ukraine comes at a critical time when Russia is escalating 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," the minister said.

This US$3.4 billion in assistance, coordinated with the US Agency for International Development and the US Department of State, is the final disbursement of funds under the bipartisan Ukraine Security Supplemental Appropriations Act of 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," the secretary said.

The latest disbursement brings the total amount of US budgetary assistance to Ukraine since Russia's invasion in February 2022 to just over US$30 billion. Most of these funds are used to support the work of the Ukrainian government by paying salaries to teachers and other civil servants.

"Ukraine’s success is in America’s core national interest," Yellen said, vowing to continue to put pressure on Moscow through sanctions and help strengthen Ukraine to achieve a just peace.

"We must not retreat in this effort," she said.

The latest funding comes on top of the US$20 billion US portion of the US$50 billion Group of Seven loan to Ukraine that the US Treasury transferred to the World Bank's Ukraine Intermediary Fund earlier this month. The funds are backed by the proceeds of frozen Russian sovereign assets.

Background:

• On Monday, 30 December, US President Joe Biden announced that the US will provide security assistance packages worth almost US$2.5 billion to Ukraine.
• One of the packages includes the transfer of weapons from Pentagon warehouses, including air defence equipment, which means that weapons and equipment will be delivered to Ukraine relatively quickly.

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