New Delhi

Advertisment

United States Treasury Secretary Janet Yellen said on Sunday (July 16) that redoubling support for Ukraine was the single best way to aid the global economy, adding there was a massive difference that foreign assistance was making to the war-torn country. Speaking on the sidelines of the G20 finance minister summit in the Indian state of Gujarat, Yellen said, "Ending this war is first and foremost a moral imperative. But it's also the single best thing we can do for the global economy."

"Budgetary support is critical to Ukraine's resistance," Yellen told reporters in Gujarat's Gandhinagar. "By helping keep the economy and the government running, we are giving Ukraine the support it needs so it can fight for freedom and its sovereignty," she added. 

The US treasury secretary also highlighted that one of her government's core goals was to combat Russia's efforts to evade Washington's sanctions. 

Advertisment

Yellen's remarks came four days after leaders of G7 promised to support Ukraine for as long as it took to defeat the Russian offensive. A report by the news agency AFP said the G7 plan provides a framework under which individual countries would agree to bilateral deals with Ukraine detailing the weapons they would give and the response they would make if Russia ups the ante. 

Eager to work with China on areas of mutual interest

Yellen also said on Sunday that she was eager to work with China in areas of mutual interest, including debt restructurings for poorer countries. Yellen said that her visit to Beijing last week helped put the US-China relationship on "surer footing" and that the world's two biggest economies had an obligation to the world "to cooperate on areas of mutual concern".

Advertisment

"There is much more work to do. But I believe this trip was an important start. I am eager to build on the groundwork that we laid in Beijing to mobilise further action," she told reporters in Gandhinagar. 

The treasury secretary also said she would continue to push hard at the G20 finance minister summit for the full and timely participation of all bilateral official creditors on pending debt restructurings.

(With inputs from agencies)

WATCH WION LIVE HERE

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.