On Monday, February 27, U.S. Treasury Secretary and former Chairwomen of the Federal Reserve Janet Yellen made a surprise visit to Ukraine to show the United States' continued aid of the country shorty after the one-year anniversary of Russia's invasion. During her press conference, Yellen Announced a $9.9 billion civilian aid package for Ukraine as it enters the second year of war with Russia. Yellen also noted that sanctions continue to be critical in countering Russia's "military industrial complex", bust also acknowledged Russia's ability to purchase goods, such as microchips, through neutral countries have allow it to work around current U.S. and NATO sanctions.
Many feel that the sanctions placed on Russia are not harsh enough, and that efforts spear headed by the U.S. to place price caps on Russian oil and fuel products are less effective than initially thought. Observers also identified that if the U.S. and NATO are going to sanction Russia, they must target those funding the war effort. "There are Russian companies, oligarchs, and organizations contributing to the Russian war effort that the U.S. hasn't sanctioned yet", according to Mykola Murskyj, director of government affairs at Razom for Ukraine.
https://www.npr.org/2023/02/27/1159719607/janet-yellen-ukraine-us-aid
2 comments:
I agree with this post because Russia was not dealt harsh sanctions. The government should put a ban on all Russian products if they want to give out harsher terms.
Hello Connor,
It was publicly announced that Janet Yellen visited Ukraine about 11 days ago. During her visit, she stated that she was surprised and excited to see that many of Ukraine's shops, warehouses, factories, and restaurants were still open. In fact, she was so surprised at how the economy of Ukraine was running that she mentioned that it would be a good time for a rebuild. I am hopeful that Ukraine is able to begin this process of rebuilding its economy through policy and construction projects to renovate damaged buildings.
Overall, this is a very relevant post. Well done.
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