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Secretary Lew Signs $1 Billion Loan Guarantee for Ukraine

Drew Angerer/Getty Images(WASHINGTON) -- Treasury Secretary Jack Lew signed a $1 billion loan guarantee for the Ukrainian government at the Treasury Department Monday morning.

Lew was joined by Ukrainian Finance Minister Oleksandr Shlapak at the signing ceremony.

“We view today's documents and today's signing as a sign of…support from the United States of America of the aspirations of the Ukrainian people to freedom, democracy and European values,” Shlapak said. “We view today's signing as the first step towards broad financial assistance to our nation.”

Secretary Lew also said the U.S. was willing to impose “additional significant sanctions” against Russia as tension in eastern Ukraine escalates.

“[W]orking with our allies, we are fully prepared to impose additional significant sanctions on Russia as it continues to escalate the situation in Ukraine, including apparently through support to a…campaign by armed militants in east Ukraine,” Lew said Monday in the Cash Room at the Treasury Department.

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