US Treasury Secretary: Russia's assets will not replace US aid to Ukraine
Kyiv • UNN
The head of the U.S. Treasury Department says that confiscated Russian assets cannot replace urgently needed U.S. aid to Ukraine, which has been delayed in Congress.
Any plan to confiscate or monetize $300 billion worth of frozen Russian assets in favor of Ukraine cannot be considered a substitute for urgently needed aid that has been delayed in Congress. This was stated by U.S. Treasury Secretary Janet Yellen, Bloomberg reports, UNN writes.
I don't see any real substitute for Congress giving Ukraine the aid it needs this year. I don't think anyone can fill that gap
Details
She also noted that while the European Union has offered Ukraine "very significant funding" and Japan has also contributed, "the total amount seems insufficient. These funds could help the country cope with the situation in the near future while Kyiv waits for more comprehensive assistance, she said.
More than $60 billion in proposed US emergency aid to Ukraine has been stuck in Congress for months as Republican leaders try to force President Joe Biden to implement immigration policy. Yellen warned that without the aid, Ukraine could face serious difficulties.
Yellen acknowledged Europe's concerns, but said her colleagues were open to cooperation with the United States.
When they hear that we believe there is a good international rationale, that we can look for alternatives to try to mitigate various risks, they are certainly willing to work with us,
Recall
The U.S. Treasury Secretary urged G20 financial leaders to find a way to transfer $300 billion worth of frozen Russian assets to Ukraine to strengthen its defense and rebuild after the war.
