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
- DECLARATION | COMECE Assembly: EU bishops call for AI to remain at the service of the human person - The Catholic Church in the European Union - October 19th, 2026 [October 19th, 2026]
- Strongly worded U.S. warnings to the European Union regarding restrictions on the technology and satellite markets - - October 19th, 2026 [October 19th, 2026]
- SPCX Stock Down For Third Straight Session: The European Union Is Preparing To Fast Track Approvals For SpaceX's Satellite Rival - Yahoo Finance - October 17th, 2026 [October 17th, 2026]
- Palestine*: Statement by the High Representative on behalf of the European Union on the postponement of elections - Consilium.europa.eu - October 17th, 2026 [October 17th, 2026]
- The European Union Deforestation Regulations Uneven Impact: Who is exposed and what are the costs? - International Institute for Sustainable... - October 17th, 2026 [October 17th, 2026]
- SPCX Stock Down For Third Straight Session: The European Union Is Preparing To Fast Track Approvals For SpaceX's Satellite Rival - Stocktwits - October 17th, 2026 [October 17th, 2026]
- AES wins European Union approval for sale to GIM and EQT Fund Management - Seeking Alpha - October 17th, 2026 [October 17th, 2026]
- COMECE bishops send message of prayer and support to Pope Leo XIV - The Catholic Church in the European Union - October 17th, 2026 [October 17th, 2026]
- AES wins European Union approval for sale to GIM and EQT Fund Management - TradingView - October 17th, 2026 [October 17th, 2026]
- European Union Film Festival launches 29th in-person edition, November 12 to 26 - Stir - October 17th, 2026 [October 17th, 2026]
- Adverse childhood experiences in the European Union, Iceland and Norway: characteristics, consequences and costs - World Health Organization (WHO) - October 10th, 2026 [October 10th, 2026]
- The Vadul Racov bell tower, restored with European Union and UNDP support, inaugurated together with the community - United Nations Development... - October 10th, 2026 [October 10th, 2026]
- Ethiopia: Statement by the High Representative on behalf of the European Union on the escalating conflict in Ethiopia and the implications for the... - October 10th, 2026 [October 10th, 2026]
- European and World Day against the Death Penalty: joint statement by the Secretary General of the Council of Europe and the High Representative of the... - October 10th, 2026 [October 10th, 2026]
- Europe under pressure: what does it need to decide now? - European Union Institute for Security Studies | - October 10th, 2026 [October 10th, 2026]
- European and World Day against the Death Penalty, 10 October 2026: Joint statement by the High Representative of the European Union and the Secretary... - October 10th, 2026 [October 10th, 2026]
- European Union study finds children absorb more wireless radiation than adults across range of 5G frequencies - Environmental Health News - October 10th, 2026 [October 10th, 2026]
- Frontex, EUAA and IOM launch European Union-funded partnership with Ukraine on borders and asylum - Frontex - October 10th, 2026 [October 10th, 2026]
- China and the European Union agreed on these 16 resolutions from their joint Trade Talks in Beijing - The Tanzania Times - October 10th, 2026 [October 10th, 2026]
- Carney says Canada will decide its own partnerships after Trump calls EU proposal laughable - CNBC - September 20th, 2026 [September 20th, 2026]
- Mapped: The European Union in 2026, and Whats Next - Visual Capitalist - September 20th, 2026 [September 20th, 2026]
- State of the European Union 2026: GLOBSEC Experts Weigh In - GLOBSEC - September 20th, 2026 [September 20th, 2026]
- The European Union participates at the launch of the Strategic Plan 20262028 of the African Union Office of the Special Envoy on Women, Peace and... - September 20th, 2026 [September 20th, 2026]
- Carney welcomes proposal for Canada to be European Union's first associate member - Le Monde.fr - September 20th, 2026 [September 20th, 2026]
- Relations with the European Union - North Atlantic Treaty Organization | NATO - September 11th, 2026 [September 11th, 2026]
- Owning the middle: What India's BRICS presidency says about the future of multilateralism - European Union Institute for Security Studies | - September 11th, 2026 [September 11th, 2026]
- A Serbia that mourns Mladi and rallies behind Vui cannot join the European Union - EUobserver - September 8th, 2026 [September 8th, 2026]
- Spanish City Overwhelmed by Moroccan Migrant Influx Pleads For Help From European Union - The New York Sun - September 8th, 2026 [September 8th, 2026]
- International Day Commemorating the Victims of Acts of Violence based on Religion or Belief: Statement by the High Representative on behalf of the... - August 23rd, 2026 [August 23rd, 2026]
- European Union launches a new EUR143 million Annual Action Plan (AAP) 2026 for Malawi - European External Action Service (EEAS) - August 23rd, 2026 [August 23rd, 2026]
- European Union Foreign Policy and the Global Climate Regime - ActuaLitt.com - August 23rd, 2026 [August 23rd, 2026]
- Volodymyr Zelensky requests the European Union for 30 billion euros in aid to finance Ukraine's defense. - Informat.ro - August 23rd, 2026 [August 23rd, 2026]
- Is the U.S. driving Iceland to join the European Union? - DW.com - August 16th, 2026 [August 16th, 2026]
- European Union Brackish Water Reverse Osmosis Systems - Market Analysis, Forecast, Size, Trends and Insights - IndexBox - August 16th, 2026 [August 16th, 2026]
- Uefa takes inspiration from European Union in plan to oust Gianni Infantino and reform Fifa - The Independent - August 16th, 2026 [August 16th, 2026]
- European Union marks International Youth Day in Nepal with a day of opportunity, innovation and youth leadership - EEAS - August 16th, 2026 [August 16th, 2026]
- European Union Indirect Fired Heaters - Market Analysis, Forecast, Size, Trends and Insights - IndexBox - August 16th, 2026 [August 16th, 2026]
- 'Migrant tunnels' used by foreigners to smuggle into European Union exposed as border crisis deepens - GB News - August 11th, 2026 [August 11th, 2026]
- European Union IP Rated Enclosures - Market Analysis, Forecast, Size, Trends and Insights - IndexBox - August 11th, 2026 [August 11th, 2026]
- International Day of the Worlds Indigenous Peoples, 9 August 2026: Statement by the High Representative on behalf of the European Union -... - August 9th, 2026 [August 9th, 2026]
- Gaza: Statement by the High Representative on behalf of the European Union - consilium.europa.eu - August 9th, 2026 [August 9th, 2026]
- On the Anniversary of the 2008 War, the European Union Condemns Russia's Actions in Georgia - sovanews.tv - August 9th, 2026 [August 9th, 2026]
- 'Superauthoritarian Governance': Abolish the European Union, the Sooner the Better - voz.us - August 9th, 2026 [August 9th, 2026]
- Ukraine PM: The European Union has provided an additional 30 million to the Ukraine Energy Support Fund, bringing its total contribution to the Fund... - August 9th, 2026 [August 9th, 2026]
- European Union intensifies its fascist migration policies in wake of Ceuta - World Socialist Web Site - August 9th, 2026 [August 9th, 2026]
- Why heroism alone is not enough for Ukraines accession to the European Union - EUalive - August 9th, 2026 [August 9th, 2026]
- Bialiatski: Joining the European Union is not a question of "I want or I don't want," it's a question of the - - August 9th, 2026 [August 9th, 2026]
- Venezuela: The IRC and the European Union strengthen health and protection response following earthquakes - International Rescue Committee - August 4th, 2026 [August 4th, 2026]
- The Irish Presidency of the Council of the European Union Should Welcome Scrutiny from Academia - Tech Policy Press - August 4th, 2026 [August 4th, 2026]
- Statement by the High Representative on behalf of the European Union on Iran - consilium.europa.eu - August 4th, 2026 [August 4th, 2026]
- The European Union disburses a new tranche of 1.5 billion euros to Egypt - Financial Afrik - August 4th, 2026 [August 4th, 2026]
- European Union to hold emergency talks to address migration crisis in Ceuta - The Indian Awaaz - August 4th, 2026 [August 4th, 2026]
- European Union gives its greenlight to Paramount and Warner's mega merger with some conditions - AP News - July 24th, 2026 [July 24th, 2026]
- The European Union Is Splinteringand Some Say Thats the Only Way to Revive It - WSJ - July 9th, 2026 [July 9th, 2026]
- Competing for inputs: how the European Union can improve critical raw materials supply security - Bruegel - July 9th, 2026 [July 9th, 2026]
- Aidoptation Receives Approval for First Fully Autonomous Driving Tests on Highways in the European Union - Business Wire - July 9th, 2026 [July 9th, 2026]
- 'If Ukraine falls, this will be the end of the European Union and the end of Europe's future' - France 24 - July 6th, 2026 [July 6th, 2026]
- European Union Sensor Protection Tubes - Market Analysis, Forecast, Size, Trends and Insights - IndexBox - July 6th, 2026 [July 6th, 2026]
- European Union Automotive Raindrop Sensor - Market Analysis, Forecast, Size, Trends and Insights - IndexBox - July 6th, 2026 [July 6th, 2026]
- Speech by President Antnio Costa at the opening ceremony of the Irish Presidency of the Council of the European Union - consilium.europa.eu - July 6th, 2026 [July 6th, 2026]
- The future of the European Union's Cohesion Policy in the next Multiannual Financial Framework post-2027 - Committee of the Regions - July 6th, 2026 [July 6th, 2026]
- The thin blue line: the European Union and the future of Lebanons security beyond UNIFIL - PubAffairs Bruxelles - July 6th, 2026 [July 6th, 2026]
- A decade after Brexit, UK voters reflect on decision to break from European Union - PBS - June 24th, 2026 [June 24th, 2026]
- Dispatch from Tivat: What Montenegro still needs to do to join the European Union - Atlantic Council - June 24th, 2026 [June 24th, 2026]
- Representatives Of The Taliban Have Made Their First Official Visit To The European Union - i24NEWS - June 24th, 2026 [June 24th, 2026]
- Strengthening the Strategic Partnership between the European Union and Kazakhstan - consilium.europa.eu - June 24th, 2026 [June 24th, 2026]
- European Union Specialty Blend Surfactants - Market Analysis, Forecast, Size, Trends and Insights - IndexBox - June 24th, 2026 [June 24th, 2026]
- Canada and the European Union Joint Statement on the United Nations Secretary-General, Antnio Guterres' Call to Action on Methane -... - June 24th, 2026 [June 24th, 2026]
- European Union Calcium Grease - Market Analysis, Forecast, Size, Trends and Insights - IndexBox - June 24th, 2026 [June 24th, 2026]
- European Union Inflatable Air Cushion Packs - Market Analysis, Forecast, Size, Trends and Insights - IndexBox - June 24th, 2026 [June 24th, 2026]
- European Union Polyurethane Injection Grouts - Market Analysis, Forecast, Size, Trends and Insights - IndexBox - June 24th, 2026 [June 24th, 2026]
- European Union Calcined Lime - Market Analysis, Forecast, Size, Trends and Insights - IndexBox - June 24th, 2026 [June 24th, 2026]
- European Union Bauxite Feedstock - Market Analysis, Forecast, Size, Trends and Insights - IndexBox - June 24th, 2026 [June 24th, 2026]
- European Union Gearbox Oil Additives - Market Analysis, Forecast, Size, Trends and Insights - IndexBox - June 24th, 2026 [June 24th, 2026]
- Human Rights Watch: European Union Member States Meeting with the Taliban Is Hypocrisy - KabulNow - June 24th, 2026 [June 24th, 2026]
- Arrowhead Pharmaceuticals Receives Marketing Authorization in the European Union for REDEMPLO (plozasiran) to Reduce Triglycerides in Adults with... - June 24th, 2026 [June 24th, 2026]
- Video. Will the UK rejoin the European Union? MEPs debate Brexit on The Ring - Euronews - June 24th, 2026 [June 24th, 2026]
- Tax Alert: Ruling of the General Court of the European Union (the EU General Court) on the VAT treatment of post-sale loan management services -... - June 24th, 2026 [June 24th, 2026]
- Euroviews. Kazakhstan and the European Union: Building the next chapter of a strategic partnership - Euronews - June 22nd, 2026 [June 22nd, 2026]
- European Union Going To Put Tariffs On Plugin Hybrids From China Now? - CleanTechnica - June 22nd, 2026 [June 22nd, 2026]