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US Treasury to Unveil Strong New Sanctions Targeting Russia's Ukraine War Efforts Next Week

Oct 22, 2024, 02:52 PM

US Treasury Secretary Janet Yellen has announced plans to implement strong new sanctions targeting intermediaries supporting Russia's actions in Ukraine. The sanctions, set to be unveiled as early as next week, aim to restrict Russia’s access to goods that sustain its military efforts. Yellen emphasized the importance of ensuring that oil markets remain well supplied while considering further sanctions. Additionally, she mentioned that the threat of secondary sanctions on financial institutions has had a significant impact and that further actions of this type are being considered. Yellen also noted that the US is close to finalizing its part of a $50 billion Ukraine loan deal, with an expected contribution of $20 billion.