Insightful Word
  • Investing
  • Stock
  • Economy
  • Politics
  • Investing
  • Stock
  • Economy
  • Politics
No Result
View All Result
Insightful Word
No Result
View All Result
Home Economy

US disburses $3.4 billion in budget aid for Ukraine, Yellen says

admin by admin
December 30, 2024
in Economy
0
US disburses $3.4 billion in budget aid for Ukraine, Yellen says
0
SHARES
5
VIEWS
Share on FacebookShare on Twitter

By Andrea Shalal

WASHINGTON (Reuters) – The United States has sent $3.4 billion in additional budget aid to Ukraine, giving the war-torn country critical resources amid intensifying Russian attacks on Ukrainian civilians and infrastructure, Treasury Secretary Janet Yellen said on Monday.

Yellen said in a statement the direct budget assistance, provided in coordination with the U.S. Agency for International Development and the State Department, marked the final disbursement under the 2024 Ukraine Security Supplemental Appropriations Act.

A U.S. official said the funding brings the total in U.S. budget aid to Ukraine to just over $30 billion since Russia’s invasion in February 2022. Most of those funds are used to keep Ukraine’s government running by paying salaries to teachers and other state employees. 

Earlier on Monday, U.S. President Joe Biden announced $2.5 billion in additional security assistance for Ukraine, which is separate from the direct budget aid.

Nearly three years into the war, Washington has committed $175 billion in total assistance for Ukraine.

President Joe Biden’s administration has been racing to shore up support for Ukraine before Republican President-elect Donald Trump takes office on Jan. 20, given his public questioning of military aid and vows to end the Ukraine war within 24 hours of taking office.

Trump wants Ukraine’s President Volodymyr Zelenskiy to make a deal with Russian President Vladimir Putin to end the nearly three-year-old Ukraine war. Some of his fellow Republicans, who will control both houses of the U.S. Congress starting next month, have also cooled on sending more aid to Kyiv.

Yellen said continued economic aid for Ukraine was crucial to allow it to maintain government services and continue to defend its sovereignty, warning against moves to cut funding.

“Ukraine’s success is in America’s core national interest,” she said, vowing to continue to pressure Moscow with sanctions and to help position Ukraine to achieve a just peace. 

“We must not retreat in this effort,” she said.

She stressed that U.S. budget aid for Ukraine has been and remains conditioned on reforms aimed at strengthening law enforcement, improving the transparency and efficiency of government institutions, and bolstering anti-corruption efforts.

The latest funding came on top of the $20 billion U.S. portion of a $50 billion Group of Seven loan for Ukraine that Treasury transferred to a World Bank intermediary fund for Ukraine earlier this month. Those funds are backed by profits earned on frozen Russian sovereign assets.

Biden on Wednesday said he had asked the Defense Department to continue its surge of weapons deliveries to Ukraine, after condemning Russia’s Christmas Day attack on Ukraine’s energy system and some of its cities.  

This post appeared first on investing.com

Previous Post

Factbox-Most brokerages expect Fed to hold rates steady in January meeting

Next Post

Pakistan’s economy grows 0.92% in Q1 of ongoing fiscal year

admin

admin

Next Post
Pakistan’s economy grows 0.92% in Q1 of ongoing fiscal year

Pakistan’s economy grows 0.92% in Q1 of ongoing fiscal year

Trending News

US TikTok content creators warn followers to find them on Instagram, YouTube

US TikTok content creators warn followers to find them on Instagram, YouTube

December 7, 2024
Will the Fed factor in Trump’s fiscal policy plans at its December meeting?

Will the Fed factor in Trump’s fiscal policy plans at its December meeting?

November 16, 2024
Explainer-How Musk’s interview with German AfD leader squares with EU laws

Explainer-How Musk’s interview with German AfD leader squares with EU laws

January 9, 2025
Subscribe to Insightful Word


    Recent News

    Coinbase stock price could surge by 70% after S&P 500 inclusion

    Coinbase stock price could surge by 70% after S&P 500 inclusion

    May 13, 2025
    Asian markets mixed on Tuesday: Hang Seng slips 2%, Nikkei rallies 1.4%

    Asian markets mixed on Tuesday: Hang Seng slips 2%, Nikkei rallies 1.4%

    May 13, 2025
    Goldman Sachs, others boost S&P target as US-China trade deal lifts sentiment

    Goldman Sachs, others boost S&P target as US-China trade deal lifts sentiment

    May 13, 2025
    Crypto market sheds $605 million in 24 hours as whales react to volatility

    Crypto market sheds $605 million in 24 hours as whales react to volatility

    May 13, 2025

    Recent News

    Coinbase stock price could surge by 70% after S&P 500 inclusion

    Coinbase stock price could surge by 70% after S&P 500 inclusion

    May 13, 2025
    Asian markets mixed on Tuesday: Hang Seng slips 2%, Nikkei rallies 1.4%

    Asian markets mixed on Tuesday: Hang Seng slips 2%, Nikkei rallies 1.4%

    May 13, 2025

    Latest News

    • Coinbase stock price could surge by 70% after S&P 500 inclusion
    • Asian markets mixed on Tuesday: Hang Seng slips 2%, Nikkei rallies 1.4%
    • Goldman Sachs, others boost S&P target as US-China trade deal lifts sentiment

    About Insightful Word

    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools
    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools

    Copyright © 2025 Insightfulword.com. All Rights Reserved.

    No Result
    View All Result
    • Investing
    • Stock
    • Economy
    • Politics

    Copyright © 2025 Insightfulword.com. All Rights Reserved.