Yellen Vows Tighter Sanctions Against Russia

The United States is determined to continue to impose severe consequences on Putin and Russia over Ukraine war.

US Treasury Secretary Janet Yellen said on Wednesday that the US will continue to impose severe consequences on Russian President Vladimir Putin and Russia over the invasion of Ukraine.

Russia will increasingly become an economic island, she continued, saying that the US is prioritizing sanctions on oligarchs key to Putin’s power and assembling a task force with the Justice Department to “uncover, freeze and seize” their wealth.

A group of key Senate Democrats wants to know more about what the Treasury Department is doing to ensure digital currencies are not being used to bypass sanctions against Russia.

In a letter to Treasury Secretary Janet Yellen, lawmakers raised concerns that some crypto firms may not be complying with new rules, and asked for more details about how regulators are monitoring and enforcing restrictions that the US has imposed on Moscow in response to its invasion of Ukraine.