Yellen: US To Continue Supporting Ukraine 'For As Long As It Takes'

Treasury Secretary Janet Yellen said that supporting Ukraine is a top priority for the U.S. and reinforced the need for unity with the European Union in that effort.

"We cannot allow Ukraine to lose the war for economic reasons when it has shown an ability to succeed on the battlefield," Yellen said in prepared remarks before her meeting with finance ministers of the Eurozone in Luxembourg. "The Biden Administration is committed to supporting Ukraine for as long as it takes."

The U.S. has spent more than $44 billion in support to Ukraine since February 2022, when the country was invaded by Russia, according to the Department of State.

Yellen said the Biden administration plans to work with Congress "to pass a robust Ukraine package into law."

Some Republicans in Congress have shown opposition to more aid to Ukraine.

Rep. Jim Jordan (R-Ohio), who is running for speaker of the House, has said he plans to focus instead on crime and illegal immigration. Activity in the House has been almost suspended since Kevin McCarthy was ousted from the speaker post almost two weeks ago.

Yellen also called for continued sanctions on Russia.

"We continue to take additional action to ensure that Russia faces hard choices: either sell oil at a significant discount or spend huge amounts on an alternative ecosystem," she said. "Our coalition will continue to take bold, creative steps to deprive Russia of the revenue and material it uses on the battlefield."

Speaking of China, the Treasury Secretary said the U.S. and Europe should coordinate their policies toward the world's second largest economy.

"As we deepen communication and seek a healthy economic relationship with China, we are also focused on taking targeted actions to safeguard our national security interests — and those of our allies — and protect human rights."

​​Yellen reaffirmed the U.S. stands with Israel and condemns the terrorist attack by Hamas.