Watch Treasury Secretary Janet Yellen Speak Live on the Global Financial System

Jason Connolly | Pool | Reuters

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Treasury Secretary Janet Yellen testifies Wednesday before the House Financial Services Committee on the state of international finance.

In remarks prepared for the hearing, Yellen in particular noted the impact that Russia's attack on Ukraine will have on the global system.

"Russia's actions, including the atrocities committed against innocent Ukrainians in Bucha, are reprehensible, represent an unacceptable affront to the rules-based global order, and will have enormous economic repercussions for the world," she said.

Yellen also noted that institutions such as the International Monetary Fund, the World Bank and others are stepping in to provide financial assistance to Ukraine.

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