editor
During a press conference at the annual meetings of the International Monetary Fund (IMF) and the World Bank, U.S. Treasury Secretary Janet Yellen discussed ongoing measures to counter Russia’s efforts to evade sanctions. She announced that the U.S. is set to introduce “strong new sanctions” next week, targeting Russia and intermediaries in third countries that are supplying critical military inputs to the country.
Yellen emphasized that the U.S. is utilizing all available tools in response to the conflicts in the Middle East. She recalled that earlier this month, the U.S. took additional steps to increase pressure on Iran in response to its attacks on Israel, extending sanctions to target revenues generated from Iran’s energy sector.
The Treasury Secretary also highlighted U.S. efforts to promote stability in the region, including working to ensure the flow of humanitarian aid to Gaza, imposing sanctions on extremist Israeli settlers, and pressing Israel to maintain vital banking relationships for Palestinian banks.
Yellen noted that the Israeli cabinet is expected to extend exemptions to preserve correspondent banking relationships in the West Bank, which are crucial for economic stability, by the end of the month.
