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US to supply $500 million more in monetary aid to Ukraine

US to offer $500 million more in financial assistance to Ukraine

WASHINGTON: The United States will provide an extra $500 million in financial assistance to Ukraine to help it sustain incomes, pensions and other government programmes, a Treasury official said, while the beleaguered nation wards off Russia’s invasion.
The official was not licensed to speak openly ahead of the statement on Thursday, when Treasury Secretary Janet Yellen is set up to consult with Ukrainian Prime Minister Denys Shmyhal, in addition to Deputy Secretary Wally Adeyemo and Ukrainian Finance Minister Serhiy Marchenko.
The new funding comes on top of $500 million in financial help that President Joe Biden unveiled in March.
The statement comes versus the background of International Monetary Fund and World Bank spring conferences controlled by discussions over how to handle the spillover from Russia’s war in Ukraine.
The Treasury Department imposed a new age of sanctions against Russia on Wednesday. Included in the sanctions bundles are charges imposed on more than 40 individuals and entities implicated of averting sanctions. The sanctions include the very first set of penalties versus a cryptocurrency mining company in relation to the war.
Furthermore, Yellen and Ukraine’s finance minister went out of a Group of 20 conference Wednesday as Russia’s representative started talking.
A number of finance ministers and central bank governors also left the space, according a main familiar with the meetings, who spoke on the condition of privacy because the event was not public.
Some ministers and reserve bank guvs who participated in the conference virtually turned their video cameras off when Russian President Vladimir Putin‘s representative spoke, the person stated.
Yellen prepared to hold a press conference Thursday afternoon at the Treasury Department.
The International Monetary Fund and the World Bank spring conferences occur every year, with finance leaders assembling to tackle the world’s most pressing issues.

Published at Thu, 21 Apr 2022 13:40:28 +0000

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