Treasury Deputy Adeyemo Talks with Ukraine’s Finance Minister

Today, U.S. Deputy Secretary of the Treasury Wally Adeyemo held a virtual call with Ukrainian Minister of Finance Sergii Marchenko. Deputy Secretary Adeyemo reaffirmed the Administration’s unwavering support for Ukraine in its fight to defend itself against Russia’s illegal and unprovoked war and preserve its freedom, sovereignty, and territorial integrity. The Deputy Secretary commended Ukraine’s efforts to raise domestic revenues and committed that the international community would continue to stand with them. The Deputy Secretary and Minister discussed efforts by the United States and G7 partners to operationalize the G7 Leaders’ Apulia commitment to implement Extraordinary Revenue Acceleration (ERA) Loans for Ukraine, including important work by the European Union and the European Commission on the immobilization regime for Russian sovereign assets. Unlocking the value of these assets would make available approximately $50 billion in additional funding before the end of the year to support Ukraine’s current and future needs. The Deputy Secretary and Minister also discussed Ukraine’s continued progress on reforms that will further increase Ukraine’s economic resilience and improve governance and the recent disbursement of U.S. direct budget support for Ukraine.