Yellen in Kyiv to meet with Zelensky

Treasury Secretary Janet Yellen is making a surprise visit to Ukraine on Monday to meet with Ukrainian President Volodymyr Zelensky, affirming U.S. support for the country as its war with Russia passes the one year mark, according to a Treasury Department official.

Yellen will visit Kyiv, the Ukrainian capital, to meet with Zelensky and other Ukrainian officials. Yellen also announced another $1.25 billion in economic support from the U.S. to Ukraine.

The Treasury secretary’s visit to Ukraine follows President Biden’s surprise trip to Kyiv earlier this month. Biden has vowed to support Ukraine for as long as it takes — a commitment that Yellen will reiterate on Monday.

Yellen will also highlight U.S. and Western actions to impose sanctions against Russia, which are meant to weaken its defense industry and constrain its economy.

The doubling down of support for Ukraine from the Biden administration comes as some congressional Republicans have started to raise alarms about the level of assistance that the U.S. has given to the country. The likes of Rep. Matt Gaetz (R-Fla.) and Sen. J.D. Vance (R-Ohio) are prodding the administration to audit its financial support of Ukraine and provide a roadmap to end the conflict. 

Yellen said in a New York Times op-ed on Monday that Russian President Vladimir Putin was counting on western support for Ukraine to fade, highlighting the need for continued assistance.

“Mr. Putin is counting on our global coalition’s resolve to wane, which he thinks will give him the upper hand in the war,” Yellen said in the op-ed. “But he is wrong. As President Biden said here last week, America will stand with Ukraine for as long as it takes.”

Yellen laid out why economic support from the U.S. and its allies for Ukraine was vital, arguing that the country has “vast unmet economic needs.”

“War is first and foremost a security and humanitarian threat — but it is also a huge economic shock,” Yellen said.

The U.S. earmarked at least $77 billion in aid to Ukraine in 2022, including some $30 billion on military support.

The Yellen visit also comes as tensions between the U.S. and Russia have flared in recent weeks, with Putin suspending Russia’s participation in a nuclear pact between the two nations.

Updated: 3:11 p.m.