European Partnership Crucial in Efforts Against Russia
Fox News Digital has obtained exclusive access to the prepared remarks of Treasury Secretary Janet Yellen, in which she emphasizes the importance of European support in imposing costs on Russia through various sanctions packages and initiatives. Yellen is expected to highlight the novel oil price cap and crackdown on sanctions evasion as key strategies. She states, “Simply put, we cannot allow Ukraine to run out of money before it runs out of ammunition.”
Gratitude for European Union’s Strong Partnership
Yellen plans to express her gratitude to the European Union for its strong partnership and emphasize the more than $54 billion in direct budget support that has been provided to Ukraine since 2022. The Biden administration is currently requesting an additional $11.8 billion in budget support from Congress to aid Ukraine in its ongoing conflict.
Urgent Plea to Congress
Yellen is expected to urge Congress to act swiftly and provide direct budget assistance to Ukraine. She warns that failure to do so would result in a victory for President Putin and have unimaginable consequences not just for Ukraine, but for collective security. She emphasizes that U.S. budget support comes with robust oversight and transparency, and any additional support would be conditioned on essential reforms by Ukraine.
Support as an Investment in National Security
Yellen plans to echo Ukrainian President Volodymr Zelensky’s sentiments that the support is not charity, but rather an investment in the national security of the United States and its allies. She acknowledges the bipartisan efforts to secure a deal for $60 billion in aid to assist Ukraine’s war with Russia, which is included in the national security supplemental bill.
The Department of Defense has already depleted its available funds earmarked for Ukraine without requiring approval from Congress. Yellen’s plea to Congress aligns with the urgent need to unlock this aid and ensure Ukraine’s ongoing defense against Russian aggression.