US Treasury Secretary Yellen announces new sanctions targeting Russia

The sanctions will specifically target intermediaries in third-party countries who are supplying Russia with critical resources needed for its war machinery.

Yellen, delivering prepared remarks at the opening of the International Monetary Fund (IMF) and World Bank annual meetings, emphasized that the US Treasury is "working tirelessly to unlock the economic value of frozen Russian sovereign assets to aid Ukraine." These new measures are part of the broader international strategy to pressure Moscow and provide sustained support for Ukraine.

The Treasury's focus on intermediaries signals a tightening of sanctions aimed at preventing Russia from circumventing existing economic restrictions through allied or neutral countries. The aim is to further strain Russia’s ability to maintain its military operations, while also bolstering Ukraine’s economic resilience through access to seized Russian assets. (ILKHA)