Wally Adeyemo, a top US politician, says the West is committed to issuing more sanctions on Russia.
Mr Adeyemo, who is leading the Biden administration's sanction efforts, spoke to the BBC on a visit to Europe to coordinate the next phase of sanctions against Russia.
The US politician said it was clear that the US dollar, euro and pound were the backbone of the global financial system and anyone wanting to work in those currencies had to "participate in our sanctions". However, flows of euros and sterling to fund purchases of Russian oil and gas have continued during the war, helping stabilise the currency.
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