With a $ 1.3 billion transfer, the United States is reaffirming itself

With a $ 1.3 billion transfer, the United States is reaffirming itself

Recently, the US Treasury announced a transfer of $ 1.3 billion. It is an economic aid granted to Ukraine, within a first support of 7.5 billion dollars promised by the Biden administration.

In the context of the aid, the US Secretary of the Treasury explained that the US reaffirms its “firm commitment” to the Ukrainian people.

“With this economic aid, we reaffirm our firm commitment to the Ukrainian people as they defend themselves against Putin’s aggression and work to support their economy,” said US Treasury Secretary Janet Yellen. com

The first $ 1.3 billion is transferred to the Ukrainian government through the World Bank and is part of a US $ 7.5 billion economic aid package under a large emergency loan signed by President Joe Biden.

In the socio-economic context, according to World Bank estimates, Russia’s war in Ukraine risks leading to a 45% contraction of the Ukrainian economy in 2022.

The country is currently facing a growing budget deficit of five billion dollars a month, given declining revenues and the inability to access funding from foreign markets.

In this regard, international donors have made efforts to help Ukraine. Thus, the US Treasury, the G7 and the European Union have promised funding of $ 29.6 billion for Kyiv, of which $ 8.5 billion is US aid.

The United States has imposed new sanctions on Russia

On the other hand, the United States has officially decided to impose a new round of sanctions on Russia, in line with the commitments made at the G7 Summit in Germany.

Exactly, on Tuesday, June 28, the USA imposed sanctions on more than 100 companies and individuals. The import of new Russian gold has also been banned, in line with the G7’s commitments this week.

The US Treasury Department said it had imposed sanctions on 70 entities, many of which were essential to Russia’s defense defense base.

The sanctions also target 29 people, all done in an effort to prevent the Russian Federation from further developing and deploying weapons and technologies used in the invasion of Ukraine, Reuters notes.

According to Treasury Secretary Janet Yellen: “Targeting Russia’s defense industry will reduce the capabilities of Russian President Vladimir Putin and further hinder the war against Ukraine, which has already been hit by low morale, broken supply chains and logistical failures. ”