News Feed

Yellen: Redoubling Ukraine support 'single best thing' for global economy

1 min read
Yellen: Redoubling Ukraine support 'single best thing' for global economy
Janet Yellen, U.S. Treasury secretary, speaks at a Multilateral Development Bank roundtable during the spring meetings of the International Monetary Fund (IMF) and World Bank Group in Washington, DC, on April 12, 2023. (Photo by Samuel Corum/Bloomberg via Getty Images)

Redoubling support for Ukraine is the best way to improve the international economy, U.S. Treasury Secretary Janet Yellen said on the sidelines of a G20 summit of finance ministers in India, according to AFP.

"Ending this war is first and foremost a moral imperative," she told reporters in Gandhinagar, which is hosting a wider G20 summit. "But it's also the single best thing we can do for the global economy."

She said she would push back on criticism that there is a tradeoff between aiding Ukraine and developing countries.

Russia's full-scale invasion has caused food and fuel prices to soar. Many countries rely on Ukraine's grain and other food exports, which Russia's warships in the Black Sea blocked and interfered with. Russia is also a major agricultural exporter.  

An earlier grain deal negotiated to allow the export of some Ukrainian grain expires on July 17. An agreement to extend it has not been reached.

After visiting Kyiv in February, Yellen said she saw the massive difference that foreign aid has made for the country.

Ukraine, allies must do more to hit Russia’s economy, says Moral Rating Agency head
As Yevgeny Prigozhin’s mutiny exposed Russia’s political weakness, there’s an opportunity to follow up with an economic punch by targeting foreign companies that stayed in the country. This is the belief of Mark Dixon, the director of the Moral Rating Agency, which scrutinizes foreign companies tha…
Article image
Avatar
The Kyiv Independent news desk

We are the news team of the Kyiv Independent. We are here to make sure our readers get quick, essential updates about the events in Ukraine. Feel free to contact us via email with feedback and news alerts.

Read more
News Feed
 (Updated:  )

A Security Service of Ukraine (SBU) officer was murdered on July 10 in the Holosiivskyi district of Kyiv, the SBU's press service told the Kyiv Independent after a reported shooting in the district.

Show More