Yellen Calls on Europe to Boost Ukraine Aid – The New York Times
BRUSSELS Treasury Secretary Janet L. Yellen urged European nations on Tuesday to step up their spending to support Ukraine as Russias attacks on the countrys critical infrastructure showed few signs of abating.
The United States and Europe have coordinated closely in enacting sweeping sanctions against Russia in the nearly three months since its president, Vladimir V. Putin, ordered an invasion. But they have been less aligned on the need to help prop up Ukraines economy and to assist with its rebuilding once the war ends.
Congress has already approved a $13.6 billion emergency spending package for Ukraine and is expected to approve another $40 billion worth of aid. While the European Union and international financial institutions have also been making large aid contributions, Ms. Yellen said that more must be done.
I sincerely ask all our partners to join us in increasing their financial support to Ukraine, Ms. Yellen said in a speech at the Brussels Economic Forum, according to her prepared remarks. Our joint efforts are critical to help ensure Ukraines democracy prevails over Putins aggression.
The Treasury secretary is in the midst of a weeklong trip to Europe, with stops in Warsaw, Brussels and Bonn, Germany, where she will meet her counterparts at the Group of 7 finance ministers summit. Aid to Ukraine is expected to be a central topic at that meeting.
Ms. Yellen said that Ukraines financial needs are immediate and that it lacks funding to pay soldiers, pensioners and employees to keep its government running.
Whats clear is that the bilateral and multilateral support announced so far will not be sufficient to address Ukraines needs, even in the short term, she said.
Whether her call will be heeded remains to be seen. European nations are facing their own economic strain, including rapid inflation and soaring energy costs, and big challenges lie ahead as they look to wean themselves off Russian energy.
Ms. Yellen said that the United States would help break Europes dependence on Russian energy, in part by increasing American exports of liquefied natural gas. She acknowledged some climate goals to reduce emissions could be set back by the need to rely on coal and fossil fuels, but she said the current predicament should be a reminder of the need to redouble our efforts on clean and renewable energy.
Energy is another major issue that policymakers will discuss at the Group of 7 finance ministers summit in Bonn later this week. The United States is expected to press the European Union to consider alternative options ahead of its plan to phase in a Russian oil embargo by the end of the year.
Treasury Department officials said on Tuesday that they wanted Europe to consider pricing mechanisms such a price cap or tariff that would eat away at much of Russias oil profits while still giving the country enough incentive to keep producing.
The Treasury officials declined to share their estimates for what impact an embargo would have on the price of oil, but they said that constraining global oil supplies risked pushing prices sharply higher at a time when inflation is already running hot.
Following a meeting with Ursula von der Leyen, president of the European Commission, Ms. Yellen told reporters that she believes that tariffs on Russian oil could be enacted quickly and combined with the phaseout proposal that Europe is considering.
In Mariupol. The bloodiest battle of the war in Ukraine ended in Mariupol, as the Ukrainian military ordered fighters holed up at a steel plant in the city to surrender. Ukraines decision to end combat gave Moscow full control over a vast sweep of southern Ukraine, stretching from the Russian border to Crimea.
NATOs show of strength. Although planned before the invasion of Ukraine, NATO held a large military exerciseon Russias doorstep in Estonia. The drills come as Finlandand Swedenconfirmed that they would cast aside decades of strategic neutrality and apply for membership in the alliance.
Theyre talking about next year as a time frame and in the meantime it might be possible to combine a phaseout with a price mechanism, Ms. Yellen said, referring to a tariff or price cap. It is critically important that they reduce their dependence on Russian oil; were very supportive of it.
She added that the United States would help to ensure that Europe has energy supplies to meet its needs.
In her speech, Ms. Yellen said Russias decision to cut of gas supplies to Poland and Bulgaria should be a lesson that Western nations should not trade national security for cheaper resources. That situation has now left them vulnerable to countries that can use their abundance of natural resources to disrupt markets.
She cited China as a concern in that regard because of its supply of rare earth minerals that are used to make airplanes, cars and high-tech batteries.
China is building a consequential market share in certain technology products and seeks a dominant position in the manufacture and use of semiconductors, Ms. Yellen said. And China has employed a variety of unfair trade practices in its efforts to achieve this position.
Still, Ms. Yellen made clear that she was not calling for more protectionism or a reversal of globalization. Instead, she said, nations should not put all their eggs in one basket when it comes to international trade.
My point is to suggest that we should consider ways to maintain free trade and at the same time lessen some of these risks, she said.
More here:
Yellen Calls on Europe to Boost Ukraine Aid - The New York Times
- European Union Wave Washers Stainless Steel - Market Analysis, Forecast, Size, Trends and Insights - IndexBox - June 17th, 2026 [June 17th, 2026]
- European Union Surgical Towel Clamps - Market Analysis, Forecast, Size, Trends and Insights - IndexBox - June 17th, 2026 [June 17th, 2026]
- European Union Rotary Adsorption Contactors - Market Analysis, Forecast, Size, Trends and Insights - IndexBox - June 17th, 2026 [June 17th, 2026]
- European Union Buffer Preparation Systems - Market Analysis, Forecast, Size, Trends and Insights - IndexBox - June 17th, 2026 [June 17th, 2026]
- European Union Sample Vials and Inserts - Market Analysis, Forecast, Size, Trends and Insights - IndexBox - June 17th, 2026 [June 17th, 2026]
- European Union Rapid Pregnancy Test Kits - Market Analysis, Forecast, Size, Trends and Insights - IndexBox - June 17th, 2026 [June 17th, 2026]
- European Union Rapid Strep Test Cartridges - Market Analysis, Forecast, Size, Trends and Insights - IndexBox - June 17th, 2026 [June 17th, 2026]
- European Union Abrasive Finishing Media - Market Analysis, Forecast, Size, Trends and Insights - IndexBox - June 17th, 2026 [June 17th, 2026]
- STATEMENT | COMECE President reacts to European Parliament vote on the Return Regulation - The Catholic Church in the European Union - June 17th, 2026 [June 17th, 2026]
- Stavros Lambrinidis, Ambassador of the European Union to the United Nations Statement on Behalf of the European Union and Its Member States at the UN... - June 12th, 2026 [June 12th, 2026]
- The right balance: how to fix European Union artificial intelligence regulation - Bruegel - June 12th, 2026 [June 12th, 2026]
- The European Union and Equity Group Foundation join forces to expand global education pathways for top performing Kenyan scholars - EEAS - June 12th, 2026 [June 12th, 2026]
- Apple and Brussels blame each other for delaying European Union rollout of Siri AI - The Killeen Daily Herald - June 10th, 2026 [June 10th, 2026]
- Apple says Siri AI will be delayed in the European Union because of regulations - PhoneArena - June 10th, 2026 [June 10th, 2026]
- Kyrgyzstan and Germany Set for New Air Travel Links as European Union Removes Two-Decade Flight Restrictions on Kyrgyz Airlines: What This Means for... - June 10th, 2026 [June 10th, 2026]
- The European Union announces a new package of sanctions against Russia, including freezing the oil price ceiling - - June 10th, 2026 [June 10th, 2026]
- The European Union allocates an additional $18 million to combat Ebola in the Democratic Republic of Congo - - June 10th, 2026 [June 10th, 2026]
- Head of European Union Partnership Mission in Armenia appoointed - Mediamax.am - June 10th, 2026 [June 10th, 2026]
- Strengthening Pressure on Russia, Ukraines Air Defense Needs, and the Opening of Negotiating Clusters for European Union Membership: The Presidents of... - June 10th, 2026 [June 10th, 2026]
- European Union Strengthens Partnership with Solomon Islands on Sustainable Development and Global Gateway - EEAS - June 7th, 2026 [June 7th, 2026]
- China expands its spy networks across the European Union and beyond - EL PAS English - June 7th, 2026 [June 7th, 2026]
- Zimbabwe, the European Union and the African Union deepen cooperation on energy efficiency - EEAS - June 7th, 2026 [June 7th, 2026]
- Trump Aims New Tariffs at 59 Countries and the European Union - The New York Times - June 7th, 2026 [June 7th, 2026]
- European Union launches tech sovereignty initiative to boost chips, cloud and AI at home - AP News - June 7th, 2026 [June 7th, 2026]
- European Union Protein Extraction Buffer Kits - Market Analysis, Forecast, Size, Trends and Insights - IndexBox - June 7th, 2026 [June 7th, 2026]
- European Union HEPA Filtration Cartridges - Market Analysis, Forecast, Size, Trends and Insights - IndexBox - June 7th, 2026 [June 7th, 2026]
- Impasse in European Union Tobacco Tax Reform: The Swedish veto - EU Reporter - June 7th, 2026 [June 7th, 2026]
- European Union Embraces Sustainable Tourism And Resilient Economic Recovery Trends: All You Need To Know - Travel And Tour World - June 7th, 2026 [June 7th, 2026]
- European Union Expands Sanctions Targeting Iran Over Its Strait Of Hormuz Stance - Marine Insight - May 25th, 2026 [May 25th, 2026]
- European Union Launches New Travel-Friendly Visa Cascade Policy Offering Thai Nationals Graduated Access to Long-Term Schengen Visas Based on... - May 25th, 2026 [May 25th, 2026]
- European Union Fish Food Kit - Market Analysis, Forecast, Size, Trends and Insights - IndexBox - May 25th, 2026 [May 25th, 2026]
- 9th Interface Meeting between the ASEAN Intergovernmental Commission on Human Rights (AICHR) and the European Union - ASEAN Main Portal - May 25th, 2026 [May 25th, 2026]
- IMF Says European Union's Public Debt to Be on Unsustainable Path without Action - - May 25th, 2026 [May 25th, 2026]
- European Commission grants marketing authorization to Pharmings Joenja (leniolisib) the first approved treatment for APDS in the European Union -... - May 25th, 2026 [May 25th, 2026]
- European Union Approves 21 Million Military Support Package for Albania - Albanian Daily News - May 25th, 2026 [May 25th, 2026]
- Mexico and the European Union tighten their alliance in the face of Trump-era risks - EL PAS English - May 22nd, 2026 [May 22nd, 2026]
- Germany's proposal for Ukraine's associate membership of the European Union - www.lvivherald.com - May 22nd, 2026 [May 22nd, 2026]
- A new strategy to contain stablecoin risks in the European Union - Bruegel - May 20th, 2026 [May 20th, 2026]
- The European Union has no choice but to fight for its free trade policies in a hostile world - The Parliament Magazine - May 20th, 2026 [May 20th, 2026]
- PAPAL AUDIENCE & PRESS CONFERENCE | Pope Leo XIV and COMECE Presidency to discuss EUs future and global challenges. Press conference to follow -... - May 20th, 2026 [May 20th, 2026]
- Over 100 Christian organisations call on Europe to lead with courage on climate and energy transition - The Catholic Church in the European Union - May 20th, 2026 [May 20th, 2026]
- The European Union mission deploys 50 long-term observers to follow the presidential run-off in Peru - EEAS - May 20th, 2026 [May 20th, 2026]
- Europe Day 2026: Celebrating the Partnership between the European Union and the Republic of the Congo - EEAS - May 20th, 2026 [May 20th, 2026]
- Moldova, France and the European Union strengthen their cooperation for sustainable and climate-resilient agriculture. - AFD - Agence Franaise de... - May 20th, 2026 [May 20th, 2026]
- Von der Leyen wanted to manage all the money of the European Union - - - May 20th, 2026 [May 20th, 2026]
- International Day Against Homophobia, Biphobia and Transphobia: Statement by the High Representative on behalf of the European Union 2026 - EU... - May 20th, 2026 [May 20th, 2026]
- Inforegio - Commission proposes 144 million from the European Union Solidarity Fund to help Spain, Romania, and Cyprus recover from climate disasters... - May 20th, 2026 [May 20th, 2026]
- Tur calls for preparing for war because "the European Union will not surrender to the mercy of the union of t - - May 20th, 2026 [May 20th, 2026]
- European Union Dental Treats - Market Analysis, Forecast, Size, Trends and Insights - IndexBox - May 20th, 2026 [May 20th, 2026]
- Bulgaria is unlikely to become Putins new proxy within the European Union - Atlantic Council - May 16th, 2026 [May 16th, 2026]
- Challenges to the integration of the Western Balkans into European Union supply chains - Bruegel - May 16th, 2026 [May 16th, 2026]
- European Union Programmable Bread Toaster - Market Analysis, Forecast, Size, Trends and Insights - IndexBox - May 16th, 2026 [May 16th, 2026]
- Opening Speech by European Union Ambassador to China Mr Jorge Toledo at the 2nd EU-China Conference: navigating beyond the inflection point - EEAS - May 16th, 2026 [May 16th, 2026]
- European Union Waterproof Kids Rain Jacket - Market Analysis, Forecast, Size, Trends and Insights - IndexBox - May 16th, 2026 [May 16th, 2026]
- European Union Whisk Kit - Market Analysis, Forecast, Size, Trends and Insights - IndexBox - May 16th, 2026 [May 16th, 2026]
- European Union Turmeric Curcumin - Market Analysis, Forecast, Size, Trends and Insights - IndexBox - May 16th, 2026 [May 16th, 2026]
- European Union Luxury Weighted Blanket - Market Analysis, Forecast, Size, Trends and Insights - IndexBox - May 16th, 2026 [May 16th, 2026]
- European Union takes decisive steps to ensure accountability for Russia's war of aggression against Ukraine - PubAffairs Bruxelles - May 16th, 2026 [May 16th, 2026]
- From 2028, dogs and cats entering the European Union will need prior identification, and the rule could change how millions of pets cross borders -... - May 16th, 2026 [May 16th, 2026]
- Speech by Ambassador-Designate Aivo Orav, Head of the Delegation of The European Union to Trkiye, Delivered at Feriye on the Occasion of Europe Day on... - May 16th, 2026 [May 16th, 2026]
- European Union Anti Aging Face Moisturizer - Market Analysis, Forecast, Size, Trends and Insights - IndexBox - May 16th, 2026 [May 16th, 2026]
- European Commission replies to Ban on conversion practices in the European Union initiative - European Citizens' Initiative - May 16th, 2026 [May 16th, 2026]
- EUMAM MOZ Mission Force Commander Participates in Meeting Between the European Union and the Ministry of Foreign Affairs and Cooperation - EEAS - May 16th, 2026 [May 16th, 2026]
- Canada and the European Union: Growing Closer Without Merging - Policy Magazine - May 16th, 2026 [May 16th, 2026]
- European Union Hits Israeli Settlers With Sanctions - The New York Times - May 11th, 2026 [May 11th, 2026]
- European Union Pots and Pans Kit - Market Analysis, Forecast, Size, Trends and Insights - IndexBox - May 11th, 2026 [May 11th, 2026]
- Canada and the European Union Are in Love. Where Can It Lead? - The New York Times - May 11th, 2026 [May 11th, 2026]
- European Union Hair Thickening Spray - Market Analysis, Forecast, Size, Trends and Insights - IndexBox - May 11th, 2026 [May 11th, 2026]
- European Union Rolled Oats - Market Analysis, Forecast, Size, Trends and Insights - IndexBox - May 11th, 2026 [May 11th, 2026]
- How the European Union-UNDP partnership is advancing risk-informed development - UNDP - May 7th, 2026 [May 7th, 2026]
- Trump says the European Union has until July 4 to approve last years trade deal or its goods will face higher tariffs - WKYC - May 7th, 2026 [May 7th, 2026]
- The European Union, France, Germany and Palestine Launch the TAJDID Project to Strengthen Water, Sanitation and Agricultural Reuse in Jenin West -... - May 7th, 2026 [May 7th, 2026]
- Africa CDC, ASLM and the European Union Launch One Health Laboratory Initiative to Strengthen AMR Control in Africa - Africa CDC - May 7th, 2026 [May 7th, 2026]
- Trump says the European Union has until July 4 to approve last years trade deal or its goods will face higher tariffs - Ottumwa Courier - May 7th, 2026 [May 7th, 2026]
- The European Union in the New Trade Disorder - CSIS | Center for Strategic and International Studies - May 7th, 2026 [May 7th, 2026]
- Should Canada be allowed to join the European Union? - YouGov - May 7th, 2026 [May 7th, 2026]
- European Union support strengthens life-saving assistance and protection for forcibly displaced populations in West and Central Africa - UNHCR - The... - May 7th, 2026 [May 7th, 2026]
- DOCUMENT | COMECE Reflection Paper addresses mental health challenges in Europe - The Catholic Church in the European Union - May 7th, 2026 [May 7th, 2026]
- Are the Values of the European Union Those of Wokeism? - Hungarian Conservative - May 7th, 2026 [May 7th, 2026]
- Trump's call for European Union car tariffs could mean higher prices on these brands - USA Today - May 7th, 2026 [May 7th, 2026]