- Deputy U.S. Treasury Secretary Wally Adeyemo said that the U.S. and its allies are planning new sanctions on more sectors of Russia's economy that are important in sustaining its invasion of Ukraine, including supply chains.
- Adeyemo said the broadening of those efforts aimed to undermine "the Kremlin's ability to operate its war machine."
- "In addition to sanctioning companies in sectors that enable the Kremlin's malign activities, we also plan to take actions to disrupt their critical supply chains," Adeyemo added.
- "Our goal is to use an integrated approach that includes export controls which will bite over time and sanctions that will bite immediately," he said, adding they would also target alternative military suppliers used by Russia.
- Related: Sanctions On Russia After Ukraine Invasion, Are Likely To Lead To Higher Prices
- Adeyemo said he expected countries such as China and India to remain part of the global financial system rather than seeing the crisis in Ukraine as a moment to decouple from the West, notes Reuters.
- Adeyemo said that the international system that gave rise to the sanctions needed strengthening, including by addressing food insecurity, which has disrupted grain shipments from Ukraine.
- Image by Tumisu from Pixabay
