WASHINGTON, March 4 -- The U.S. Department of the Treasury issued the text of the following remarks by Under Secretary for Terrorism and Financial Intelligence David Cohen:
I am grateful to be invited to speak here at the Center for a New American Security. In just a few years, CNAS has established itself as a leader in fostering thoughtful discussion and cutting-edge scholarship on critical security issues confronting the United States, and I appreciate the opportunity to contribute to that conversation this evening.
Before I turn to the focus of my remarks, let me say a few words about the situation in Ukraine. We are deeply concerned and are closely monitoring ongoing developments in Ukraine.
As the President has said, Russia's clear violation of Ukrainian sovereignty and territorial integrity is a breach of international law. In the coming days, we will continue to monitor Russian actions in Ukraine and respond appropriately. We are looking into a wide range of options, including sanctions and ways to increase Russia's political and economic isolation. We are also working to assist the Government of Ukraine. In fact, Secretary Lew announced earlier today that we have been working with international partners to develop an assistance package that will help the Ukrainian government implement the reforms needed to restore financial stability and return to economic growth. We are working with Congress and our international partners on $1 billion in loan guarantees aimed at helping insulate vulnerable Ukrainians from the effects of reduced energy subsidies. As part of this package, we also hopeCongress approves IMF reforms, which would support the Fund's capacity to lend additional resources to Ukraine. Of note, Ukraine has identified combatting corruption and recovering stolen assets as a pressing need and our assistance package seeks to support this goal, among others.
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