Yellen says ending war most important thing for global economy
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US Treasury Secretary Janet Yellen said Russia ending the war was “the most important thing” for the global economy, as she accused officials from Moscow attending a Group of 20 meeting of being complicit in atrocities taking place in Ukraine.
Speaking in a closed-door meeting Friday (Feb 24) in Bengaluru, India, where G20 finance ministers and central bank governors are gathered, Yellen reiterated calls to her counterparts to redouble efforts to restrict Russia’s capacity to wage war.
“This war has its most devastating effects in Ukraine, but Putin’s weaponisation of food and energy has harmed developing countries and created global economic headwinds that have hurt every nation represented in this room,” Yellen said, according to remarks prepared for delivery.
Her comments on the one-year anniversary of Russia’s invasion of Ukraine come as she doubled down on calls to increase financial support to the war-torn nation during her discussions in Bengaluru.
The US has provided over US$46 billion in security, economic and humanitarian assistance to Ukraine and expects to provide around US$10 billion in additional economic support over the coming months. Financial aid, used to support critical public services and help keep the government running, is one of several ways in which the US and its allies are helping Ukraine.
Yellen has also called for the IMF to move swiftly toward a fully-financed programme for Ukraine. On Friday, she warned Russian officials attending the G20 meetings that they are “complicit in Putin’s atrocities.”
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“They bear responsibility for the lives and livelihoods being taken in Ukraine and the harm caused globally,” she said.
Russia was represented in the room by senior economic officials, according to a US Treasury official. Russian Finance Minister Anton Siluanov and central bank governor Elvira Nabiullina were not in attendance. BLOOMBERG
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