Treasury Secretary Janet Yellen makes secret trip to Ukraine

Treasury Secretary Janet Yellen made a surprise visit to Ukraine on Monday to meet with President Volodymyr Zelensky and promise more financial support from the United States in its war with Russia.

She announced the transfer $1.25 billion in economic and budget assistance to Ukraine in a follow up to President Joe Biden's surprise visit to Kyiv last week.

'I want you to know this: You are not alone. We are with you. The United States has your back—and we will stand with you for as long as it takes,' she said.

Ukrainian President Volodymyr Zelensky met with U.S. Treasury Secretary Janet Yellen during her secret visit

Yellen began her visit as air raid alarms sounded in Kyiv. 

U.S. officials said her visit is to demonstrate the importance of U.S. economic to the Ukrainian government. 

A year since the Russian invasion on Feb. 24, 2022, it comes at a time some Republican lawmakers have questioned why the U.S. is spending so much on money and military aide in the defense of Ukraine.

Yellen laid a wreath in Kyiv's St. Michael’s Square at the Wall of Remembrance in honor of Ukrainians who have died during the war and visited a school that had U.S. budget assistance. 

She stopped to inspect a destroyed Russian tank and mobile artillery piece on display at a city square cleared of visitors and met with first responders from the city's emergency services. 

Yellen visited Kyiv on her return to Washington from a G20 finance leaders meeting in Bengaluru, India, where she urged counterparts to boost economic aid to Ukraine and insisted that G20 ministers issue a strong condemnation of Russia's invasion.

Since the war began, the United States has given Ukraine more than $13 billion in economic and budget support funding, and the latest disbursement will push that to over $14 billion, with an additional $8.65 billion expected through Sept. 30.

Treasury Secretary Janet Yellen arrives to lay flowers to a Memory Wall of Fallen Defenders of Ukraine in the Russian-Ukrainian War during her visit to Kyiv

Treasury Secretary Janet Yellen visits a school and meets with students in Kyiv, Ukraine

Yellen said such economic support is keeping Ukraine's government and critical public services running, schools open and pensions paid, providing a 'bedrock of stability' that fuels Ukrainian resistance.

'A sustained military effort cannot succeed without an effective government at home,' Yellen said at the Kyiv Obolon School No. 168, where the salaries of teachers, administrators and support staff are reimbursed from U.S. budget support funds.

A chalkboard at the school, damaged in Russia's initial assault on the capital last year, read 'Crimea is Ours,' next to one with '2+2=4.'

Ukraine is estimated to need $40 billion to $57 billion in external financing this year to support its economy and is negotiating a $15.5 billion loan program with the International Monetary Fund to partly fill the gap.