US Treasury Secretary Janet Yellen announced on Thursday the provision of additional economic assistance for Ukraine worth about $10 billion in the coming months. The announcement was made on the sidelines of a meeting of G20 finance ministers and central bank chiefs in Bengaluru, India.
US Committed to Supporting Ukraine
The United States has already provided over $46 billion in security, economic, and humanitarian assistance to Ukraine. Secretary Yellen stated that the twin goals of this aid are to degrade Russia's military-industrial complex and reduce the revenues used to fund its war.
Effects of US Aid on Russia
According to Secretary Yellen, the actions of the US are having an effect. Russia's economy is becoming increasingly isolated, and its defense industry faces production problems. In addition, almost 1 million Russians have left the country in the past year.
G20 Finance Ministers to Meet in Bengaluru
The finance ministers of the G20 countries will meet in Bengaluru on Friday and Saturday to discuss the current state of the global economy and financial policy issues. This year, India is chairing the G20 group of leading industrialized and emerging economies.