Increasing American aid to Ukraine is the best way to stimulate the global economy, US Treasury Secretary Janet Yellen said on Sunday. Addressing reporters on the sidelines of a G20 finance ministers’ summit in India, Yellen doubled down on her support for the war-torn country, explaining her motivation by stating: “Ending this war is first and foremost a moral imperative. But it’s also the single best thing we can do for the global economy.”
Russia’s first incursion into Ukraine in February 2022 sent shockwaves through the international market, causing prices of both food and fuel to increase dramatically. Sanctions against Russia coupled with disruptions to trade only worsened the problem as the conflict escalated.
Yellen made a widely publicized visit to Kiev in February, shortly after President Joe Biden did the same. Yellen stated that her purpose was to “reaffirm our unwavering commitment to Ukraine, discuss ways we can continue our support — including through economic assistance — and pay tribute to the bravery of the Ukrainian people a year after Russia’s unprovoked invasion.”
Following @POTUS’s visit to Ukraine, I'm in Kyiv to reaffirm our unwavering commitment to Ukraine, discuss ways we can continue our support – including through economic assistance – and pay tribute to the bravery of the Ukrainian people a year after Russia's unprovoked invasion. pic.twitter.com/avJaabavX7
— Secretary Janet Yellen (@SecYellen) February 27, 2023
After meeting with President Volodymyr Zelenskyy and a number of Ukrainian banking officials, she announced the authorization of $1.25 billion in additional aid. She has since maintained that military and financial aid are making a critical difference in the Ukrainian war effort. “Budgetary support is critical to Ukraine’s resistance,” Yellen said. “By helping keep the economy and the government running, we are giving Ukraine the support it needs so it can fight for freedom and its sovereignty.” In total, the United States has sent an estimated $75 billion in aid to Ukraine. With neither Russia nor Ukraine showing a willingness to end the conflict, that number is likely to increase even further.
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But despite recent polls showing almost no support for continued aid by the American public, many of America’s politicians continue to make it a priority. As Valuetainment previously reported, in an interview with Tucker Carlson at the Family Leadership Summit in Iowa, former vice president and current 2024 presidential candidate Mike Pence argued that “it is in the interests of the United States of America to continue to give the Ukrainian military the resources they need to repel the Russian invasion and restore their sovereignty.” The blowback against this statement, as well as Pence’s insistence that the deteriorating quality of life in American cities is “not my concern,” has left his campaign on shaky footing.
Additionally, former President Donald Trump, an outspoken critic of the Biden administration’s handling of the war, pledged to put an end to the conflict “on day one” if reelected in 2024. However, when pressed on that promise during an interview with Maria Bartiromo on Fox News’ “Sunday Morning Futures,” Trump did not outline a specific plan. Instead, he said: “I would tell Zelenskyy, no more. You’ve got to make a deal. I would tell Putin, if you don’t make a deal, we’re going to give [Zelenskyy] a lot. We’re going to them more than they ever got if we have to.”
Trump’s plan to fund and supply Ukraine even further drew criticism from conservative commentators who argue that this would merely be a continuation of Biden’s current strategy—which has not served as a deterrent to Putin so far.
But with the war dragging on and the American role in the conflict becoming a major platform issue for the 2024 election, it is becoming clear that someone will need to propose a bold new strategy before things can change.
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