Berlin Despite a Republican majority in the US House of Representatives, the USA intends to continue supporting Ukraine massively. The aid requested by US President Joe Biden for the invaded country “will be decided by the US Congress in the coming weeks,” US Deputy Treasury Secretary Wally Adeyemo told the Handelsblatt.
“We will provide Ukraine with the weapons it needs for its defense as well as the means it needs to meet its financial obligations in 2023,” added the 41-year-old.
The US government wants to enable Ukraine to “end the Russian invasion as soon as possible,” Adeyemo said. He dismissed speculation that Republicans could drastically cut aid to Ukraine.
Washington’s support is “bipartisan”, emphasized the Deputy Treasury Secretary – “because it’s about sovereignty and values like that, that a big country shouldn’t just attack a small one”.
Adeyemo is the chief operating officer of the US Treasury Department, which is headed by Treasury Secretary Janet Yellen. According to US media reports, he is considered Biden’s future economic adviser. Prior to his appointment to government, he was head of the Obama Foundation, previously Deputy National Security Advisor during Obama’s presidency.
Adeyemo certifies Germany a “good job”
Adeyemo did not want to follow the American military’s criticism of the alleged lack of German support for Ukraine. On the contrary: he praised the German role in Europe for Ukraine aid.
Germany and Europe have done a “good job” supporting Ukraine with weapons and money, punishing Russia with sanctions and helping Ukrainian refugees.
Most recently, the EU heads of state and government approved 18.5 billion euros for budget aid to Ukraine on Thursday. Europe has also mastered the challenges posed by the fact that “Russia has used energy supplies as weapons” at great expense.
At the most recent summit, the EU states again agreed to provide billions in aid for Ukraine.
(Photo: dpa)
In particular, the US politician praised the 100 billion euro program to strengthen the German armed forces, as it greatly benefits NATO’s defense capabilities.
With regard to inflation, however, Adeyemo gave no hope: “Until the Russian invasion of Ukraine is over, we will have to contend with the high costs of energy and food worldwide.”
Talks about trade dispute with the USA
Adeyemo was in Brussels and Berlin over the weekend, and not just to talk about the Ukraine war. He also met with representatives of German industry and Jörg Kukies, Chancellor Olaf Scholz’s economic and financial policy adviser. Both sides discussed transatlantic anger over the Inflation Reduction Act (IRA), which US President Joe Biden signed into law in mid-August.
The IRA is supposed to subsidize the conversion of the US economy to more climate-friendly production with billions – and has caused irritation in Europe in recent weeks. German industry fears that it will be disadvantaged by the project. German Economics Minister Robert Habeck warned that the IRA was “siphoning off investment from Europe”.
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Crisis talks between Brussels and Washington have been going on for weeks. As the Handelsblatt reported from negotiating circles, a solution is now emerging. The US government is considering accommodating the Europeans on two points: in electric cars and in battery production.
“We have to deal with the concerns,” said Adeyemo. He promised a solution that takes into account the concerns of European companies. The US Treasury Department is responsible for 75 percent of the climate-related funds from the Inflation Reduction Act. “We gave those involved the opportunity to give us feedback.” This would have included companies, countries and individuals.
“We have received thousands of comments and are now in the process of putting together the rules and regulations we will need to implement these measures,” Adeyemo said, promising to consider objections. The Treasury Department is expected to issue guidance on implementing the IRA by the end of the year.
The US Deputy Treasury Secretary manages – together with his boss – the bulk of the IRA funds.
(Photo: AP)
“We strongly believe that it is important to have two very strong industrial bases: in the US and in Europe,” Adeyemo assured. “It is in both our economic and security interests to ensure that Europe has a thriving industrial base.”
In many respects, Europe is ahead of the USA when it comes to the green transformation, according to Adeyemo. “Europe has taken action towards a clean energy future that has long been far bolder than ours.” Washington sees the IRA as an opportunity to catch up.
Adeyemo praises good transatlantic relations
Adeyemo affirmed that transatlantic relations had never been stronger. With a view to dealing with China, he was satisfied with Germany’s actions. Most recently, the decision to invest the Chinese state-owned company Cosco in the Port of Hamburg, which Chancellor Scholz had pushed through against the will of the cabinet, was reported to have caused irritation in the United States.
When asked about this, Adeyemo emphasized: “In my discussions with both German industry and government officials, I found that they are aware of the risk associated with over-dependence on a supply chain that is concentrated in one country.”
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