Support announced so far will not be sufficient to address Ukraine’s needs, even in the short term
Europe needs to step up support to Ukraine in the face of continued Russian aggression, U.S. Treasury Secretary Janet Yellen said on May 17, 2022: “I sincerely ask all our partners to join us in increasing their financial support to Ukraine.”
“Support announced so far will not be sufficient to address Ukraine’s needs, even in the short term,” she said.
The U.S. has already approved $13.6 billion in emergency funds and is expected to sign off on an additional $40 billion worth of aid on May 19, 2022 — a figure in total exceeding the entire U.S. State Department budget.
So far, the EU has dispensed €4.1 billion ($4.3 billion) in emergency loans and €1.5 billion ($1.6 billion) in non-lethal military assistance and is expected to announce additional funds in the coming days, although it is unclear how much this will be.