Yellen says goal without hurting US is “maximum pain” for Russia

“The addition of assets to additional banks is nothing but the most significant part we’ve seen so far,” said Daniel Tanebaum, a partner at Oliver Weiman, who advises banks on sanctions.

Other American organizations are joining the effort to put pressure on Russia.

At a news conference Wednesday, the judiciary and FBI officials also announced multiple actions and criminal charges against the Russians, including removing the Dark Web and a botnet, or a Russian marketplace infected with a network of hijacked devices. Malware, which is controlled by the country’s military intelligence agencies.

Justice officials also accused Russian oligarch Victor F. A superhero owned by Wexelberg has celebrated the capture of Tango and accused Konstantin Malofeev, a Russian banker, of plotting to violate US sanctions. Mr Maloffiev is one of Russia’s most influential magnets and one of the most prominent conservatives in the country’s Kremlin-allied elite. (His surname is mentioned in the complaint as Malofeev.)

At the hearing, Ms Yellen told lawmakers she believed Russia should be further isolated from the geopolitical system, including closing international gatherings such as the Group of 20 meeting this year and condemning it at this month’s international meeting. Monetary Fund and the World Bank. He added that the United States would not be able to attend some of the G20 summits in Indonesia this year if the Russians were present.

Ms Yellen, whose department is developing a number of punitive economic measures, has criticized criticism that the fines imposed so far have not been effective because there are some exceptions to allowing Russia to sell power.

“Unfortunately, many of our European partners are heavily dependent on Russian natural gas, as well as oil, and they are committed to overcoming this dependence as soon as possible,” said Mrs. Yellen. The Treasury Secretary has reduced the rebound in the Russian currency, the ruble, which was credited after the imposition of sanctions in February but has since regained its value. Mrs Yellen said the apparent recovery of the ruble was the result of the currency controls that Russia had established and that its exchange rate did not reflect its true value.

“The Russian economy is really reeling from the sanctions we have imposed,” said Mrs. Yellen.

Leave a Comment

Your email address will not be published.