Markets Wired

WASHINGTON – Today, Secretary of the Treasury Janet L. Yellen held a virtual meeting with Ukraine Prime Minister Denys Shmyhal.  Secretary Yellen reaffirmed the United States’ solidarity with the government and people of Ukraine in the face of Putin’s unprovoked and unjustified war.  Secretary Yellen discussed the need for Ukraine’s partners to deliver expeditiously on economic assistance for Ukraine.  As one of the largest bilateral donors, the United States is providing grants to Ukraine that will add up to $8.5 billion by end-September.  The Biden Administration is also requesting an additional $4.5 billion from Congress for Ukraine’s critical needs in the coming months.  The United States supports Ukraine as it develops a macroeconomic reform program supported by IMF financing.  Secretary Yellen also underscored the need for a broad coalition of partners to participate in Ukraine’s recovery and reconstruction and focus on identifying near-term, high-impact projects critical to rebuilding Ukraine’s economy. The Secretary outlined the next steps for implementation of the price cap on Russian oil, to help put downward pressure on global energy prices and reduce the revenue Putin is using to fund his illegal war. 

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