The plan of the United States and its allies new Penalties on more sectors of Russia economy This is it critical to keep invasion of Ukraine, including supply chains, said Deputy Secretary of the US Treasury Wally Ademo on Tuesday.
Adeyemo, speaking in London on European trip to consult with allies on He said that the strengthening and enforcement of sanctions to punish Russia, that expanding of These efforts were aimed at undermining the Kremlin ability to run her war machine. “
In addition to punishing companies in The sectors that enable the Kremlin’s malicious activities, we also Plan to take action to disable their own critical supply chains,” said Adeemo in prepared notes for Delivery at Chatham House Research Centre, London.
“These are measures we will take in formatting with The more More than 30 partners and allies joined for us coalition in Russia’s response invasion of Ukraine” addedwithout specifying specific sectors or companies.
Sanctions imposed since invasion February 24 began, including the freezing of central Russia bankforeign currency assetsthe ban key Russian banks and wealthy elites from hard Currency transactions and export restrictions on Advanced semiconductors and others technologyIt proved extremely effective, Ademo said, in plunging Russia into financial calamity.
The sanctions have weakened the Russians economy And the left Kremlin with Fewer resources.
“Our allies and partners are committed to taking extra importance steps to restrict the Russian economy for As long as Russia invasion Adeemo said.
condole success of Sanctions into a strong multilateral effort and force of a international economic and financial system built through democracy countries in the end of World War II, which created institutions including the International Monetary Fund (IMF) and the World Bank and precursors to the World Trade Organization (WTO).
These institutions were created international rules, standards and values that set The theater for contracts of The prosperity that Russia rejected in it’s a invasion of Ukraine said.
“Our multilateral response makes clear that international financial system And the economic market is not open to those fail To respect the basic principles of “Territory unity and self-determination,” Adiemo said.
This includes the few Russian targets targeted by sanctions and those who may try help They hide their assets, he said, adding that they will too face Penalties.
Adeyemo said that a file international system that gave rise Sanctions are required to be strengthened, including by tackling food insecurity caused by the conflict, which has disrupted grain shipments from Ukraine.
he is also said that international community Necessary to finalize the global Minimum Corporate Tax Agreement and continue to provide the resources needed to end the COVID-19 pandemic, with wider vaccine access.
Adeyemo also . said use of Economic sanctions must be refined to maintain their effectiveness, including avoiding and ensuring that unilateral actions are linked to them clear policy Goals are easily reversible when they are met.
