Yellen says Treasury to curb Russia’s oligarch wealth in the Ukrainian war

Chicago — Treasury Secretary Janet Yellen on Wednesday imposes “serious consequences” on Russia’s President Vladimir Putin and the wealthy oligarchs who support him, with US and Western allies fixing half of the assets of the Central Bank of Russia. Said to continue. Escalate his war in Ukraine.

Yellen spoke in Chicago to promote President Joe Biden’s economic agenda, saying the Treasury “prioritized pursuing the oligarchs and Russian elites who are key to Putin’s corrupt power.”

“We have sanctioned many of these individuals over the past few weeks and formed a task force with our colleagues and allies in the Department of Justice to discover, freeze and seize their wealth around the world.”

Jellen, who traveled around the Ukrainian village of Chicago with Illinois Governor Jay Pritzker, said that the United States and allies around the world would work together to isolate Russia, making it even more difficult for Putin to fund Russia’s invasion of Ukraine. He said he was doing it. She said that 80 percent of Russia’s banking system assets are currently under limits.

“Russia is becoming an increasingly economical island,” she said. “If Putin continues this provocative invasion, President Biden and our allies and partners around the world will continue to impose serious consequences on Russia and will give Putin his illegal and outrageous behavior. We will continue to adhere to our commitment to take responsibility. “

Yellen also needs stronger economic policies to strengthen the United States domestically, even though the economic recovery from COVID-19 is expected to exceed most expectations and the United States will continue to grow. Said.

David Loader