In a recent interview with Sky News, US Treasury Secretary Janet Yellen made a striking statement regarding the United States’ ability to support two ongoing conflicts: one in Ukraine and the other involving Israel. Yellen asserted that the United States can “certainly afford” to engage in these two wars concurrently.
The US has been providing aid to Ukraine following Russia’s initiation of a ‘special military operation’ in 2022, and more recently, the US has extended support to Israel in response to a surprise attack by Hamas fighters on October 7, 2023. In her interview, Yellen emphasized that the US economy and public finances are robust enough to ensure continued support for its global interests.
Yellen also acknowledged the complexity of the situation, particularly the ongoing conflict between Israel, led by Benjamin Netanyahu, and Hamas fighters in Gaza. She pointed out that it is still too early to fully comprehend the ramifications of this war. The threat of the conflict escalating into a regional crisis in the Middle East, coupled with fluctuating oil and gas prices, adds to the uncertainty.
Regarding the vacant position of House Speaker after the ousting of Kevin McCarthy, Yellen appealed to Republicans to promptly fill the void, as this is essential for ensuring financial support for both Israel and Ukraine. She stressed the urgency, stating, “We do need to come up with funds, both for Israel and for Ukraine. This is a priority. It’s really up to the House to find, seat a speaker, and put us in a position where legislation can be passed.”
Yellen further conveyed the unwavering support of the United States for Israel, acknowledging their right to self-defense while emphasizing the importance of minimizing civilian casualties. She affirmed, “America can certainly afford to stand with Israel and to support Israel’s military needs, and we also can and must support Ukraine in its struggle against Russia.”
Meanwhile, US Secretary of State Anthony Blinken reiterated the US commitment to supporting Israel in its battle against Hamas as he made his second visit to the country in less than a week. During his visit to Jerusalem, Blinken discussed the war’s progress and the imperative to safeguard civilian lives, following his discussions with Arab leaders.
In the latest update on the Israel-Gaza conflict, the relentless bombardment by Israel has resulted in a significant loss of life, with thousands dead and many still trapped beneath the rubble. The World Health Organization (WHO) has issued a dire warning, citing the scarcity of essential supplies such as food, water, fuel, and electricity in Gaza, as the Palestinian population struggles for survival in the besieged enclave.
In this complex international scenario, Janet Yellen’s statements highlight the US’s stance and commitment to addressing two simultaneous conflicts, underlining the nation’s financial capacity to do so.