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The U.S. called on the G20 countries to increase financial aid to Ukraine

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U.S. Treasury Secretary Janet Yellen called on the G20 countries to increase financial aid to Ukraine to help it battle the Russian invasion.

According to Reuters, Janet Yellen said it while speaking at a news conference during the meeting of finance leaders of the G20 in Bengaluru, India.

She reminded the media that the United States was preparing to give Ukraine an additional $10 billion in economic assistance in the coming weeks.

Quote"As President Biden has said, we will stand with Ukraine in its fight — for as long as it takes," she said. "Continued, robust support for Ukraine will be a major topic of discussion during my time here in India."

Yellen pointed out that the U.S. had approved a $46 billion package of emergency military and other aid.

Quote"In the coming months, we expect to provide around $10 billion in additional economic support for Ukraine," she added.

The treasury secretary emphasized that price caps imposed by Western countries on Russian crude oil exports and petroleum products were helping to stabilize global energy prices while reducing Russia’s energy revenues "substantially."

Quote"Last month, the Kremlin’s oil revenue was nearly 60 percent lower than in the immediate aftermath of the invasion," she said, adding that it was enabling emerging markets, including India, to negotiate steep discounts on Russian oil.

Context. Earlier, it has become known that India, which is hosting the G20 summit, doesn’t want the Group of Twenty to discuss imposing additional sanctions on Russia for its invasion of Ukraine. Moreover, India even proposed the words "crisis" or "challenge" instead of "war".

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