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Prime Minister tackled Ukraine’s support with U.S. Secretary of the Treasury


The Prime Minister of Ukraine Denys Shmyhal and the Secretary of the Treasury of the United States Janet Yellen discussed possible increase of financial support for Ukraine and the need to intensify sanctions pressure on russia. The meeting, which took place on April 21 as part of the Prime Minister’s working visit to Washington, was also attended by the Minister of Finance of Ukraine Serhii Marchenko and the Governor of the National Bank of Ukraine Kyrylo Shevchenko.

In particular, the participants tackled filling the U24RecoveryFund established by the Cabinet of Ministers that will help accumulate resources to continue funding the Ukrainian army, social obligations, economic and infrastructure recovery. Denys Shmyhal also stressed that the disbursed by the U.S. funding would be support for the Ukrainian budget as well.

“April will be a challenging month for the Ukrainian budget, hence we need support from our allies now. The USD 500 million resource provided to the Ukrainian budget by the United States will definitely be a significant support,” said the Prime Minister.

Sanctions against russia, the oil embargo and the collapse of the russian banking system were the focus for discussion. According to Denys Shmyhal, russian banks are looking for ways to circumvent sanctions. Therefore, the parties agreed to jointly prevent this and eliminate any attempts and opportunities to avoid sanctions. The Prime Minister is convinced that the russian banking system should be cut off from the world.

“At all our meetings, we emphasize that russia is a threat not only to Ukraine but to the entire civilized world. We all observe this aggressor country trying to provoke as many global crises as possible. In the energy, food, migration areas. That is why it is so important to unite in support of Ukraine and help us win this war,” Denys Shmyhal summed up.