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EXCLUSIVE: Treasury Secretary Janet Yellen on Wednesday is predicted to urge Congress to “act quickly” to present extra assist to Ukraine, and warn {that a} failure to act would “hand a victory” to Russian President Vladimir Putin and would have “unthinkable consequences” for the U.S. and its allies.
Yellen is about to host European Commission Executive Vice Presidents Margrethe Vestager and Valdis Dombrovskis on the Treasury Department on Wednesday to focus on the “importance” of collective assist for Ukraine.
Fox News Digital completely obtained Yellen’s ready remarks she plans to ship in the beginning of the assembly.
UNITED STATES – MARCH 16: Treasury Secretary Janet Yellen testifies in the course of the Senate Finance Committee listening to on the The Presidents Fiscal Year 2024 Budget, in Dirksen Building on Thursday, March 16, 2023. (Tom Williams)
“Europe has been a key partner in the effort to impose increasing costs on Russia through putting in place multiple sanctions packages, implementing a novel oil price cap, and cracking down on sanctions evasion,” she is predicted to say. “In Ukraine, our financial support is inextricably linked to success on the battlefield. It helps underpin Ukraine’s war effort.”
Yellen will add: “Simply put, we cannot allow Ukraine to run out of money before it runs out of ammunition.”
Yellen is predicted to thank the European Union for its “strong” partnership, and tout the greater than $54 billion mixed in direct funds assist to Ukraine since 2022.
The Biden administration is at present requesting a further $11.8 billion in funds assist from Congress for Ukraine.
Yellen on Wednesday is predicted to urge Congress to “act quickly to provide support to Ukraine, including through direct budget assistance.”
“Failure to act would hand a victory to President Putin and have unthinkable consequences not only for Ukraine, but also for our collective security,” she is predicted to say. “Failure to act would hand a victory to President Putin and have unthinkable consequences not only for Ukraine, but also for our collective security.”
While assembly with Ukrainian President Volodymyr Zelenskyy, Treasury Secretary Janet Yellen doubled down on the Biden administration’s dedication to offering the war-torn nation monetary support. (Ukrainian Presidential Press Office by way of AP)
Yellen can also be anticipated to echo remarks made by Ukrainian President Volodymr Zelensky that the assist is “not charity” however an “investment” within the nationwide security of the United States and its allies.
But in her anticipated plea to Congress, Yellen is about to clarify that U.S. funds assist “benefits from an unprecedented level of robust oversight and transparency—an issue of great importance to Congress and the Administration—and additional support would be conditioned on Ukraine making essential reforms.”
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“We will continue to urge Congress to act, and we are proud to stand alongside our European partners in this vital work,” she is predicted to say.
A bipartisan group of lawmakers has been attempting to safe a deal for months with White House officers to unlock $60 billion of support to help Ukraine’s battle with Russia that is included within the nationwide security supplemental invoice. The Department of Defense has already depleted its accessible funds earmarked for Ukraine with no need approval from Congress.
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