At the G7 meeting in Japan, Treasury Secretary Janet Yellen will underscore US commitment to continue supporting Ukraine for as long as needed, while working with other rich nations to degrade Russia's ability to wage war against its neighbor
Yellen identified redoubled support for Ukraine as one of her three core priorities - along with bringing down inflation and bolstering long-term economic resilience - in excerpts of remarks she will give later Thursday ahead of meetings with her counterparts from Group of Seven rich nations in Japan.
"Since Day One, our countries have stood united to support the Ukrainian people as they have mounted a fierce resistance," she said. "As I’ve said before, we will stand with Ukraine for as long as it takes.” Those efforts had "systematically degraded Russia's military-industrial complex and helped reduce the revenues that Russia can use to fund its war," she said, noting Washington and the coalition were focused this year on countering Russia's efforts to evade those sanctions.
Yellen also said caps on the price of Russian oil and oil products, discussed by G7 finance ministers for the first time just a year ago, were clearly working just a few months after its implementation in December and February, respectively.
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