The US will work with the IMF and the World Bank to impose further sanctions on Russia and provide aid to Ukraine, said Janet Yellen.
US Treasury Secretary Janet Yellen alerted that Putin’s “special military operation” in Ukraine “will have enormous economic repercussion for the world.” She added that the US authorities plan to impose further sanctions on Russia and provide aid to Ukraine.Despite the recent reports that Vladimir Putin’s forces are withdrawing from the surroundings of Kyiv, the military conflict in Ukraine seems nowhere near the end.
The Western world, though, strongly opposed the massacre as even Pope Francis kissed the Ukrainian flag in honor of the “martyred” town. Another individual who criticized the act was US Treasury Secretary Janet Yellen. She“Russia’s actions, including the atrocities committed against innocent Ukrainians in Bucha, are reprehensible, represent an unacceptable affront to the rules-based global order, and will have enormous economic repercussions for the world.
In addition, Yellen said that the US authorities are working together with the International Monetary Fund, the World Bank, and numerous other organizations to provide help to Ukraine. They also intend to impose additional financial penalties on Russia. For one, she believes that the largest country by landmass should be entirely excluded from the global payment network.
Nevertheless, the risk of inflation and a severe financial crisis remained high, and the county’s officials started looking for alternatives that could preserve its economy. Many reports inclined that Russia could employ cryptocurrencies to bypass the penalties. One such coverageAccording to many experts, though, using digital assets to avoid sanctions is not an option.
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