Yellen announces new US sanctions on Russian military networks | Conflict News

The US Treasury Secretary has said that ending the war in Ukraine is the “best thing” to help the global economy.

US Treasury Secretary Janet Yellen has announced new US sanctions targeting networks accused of supplying military technology for Russia’s war in Ukraine.

Speaking on the sidelines of the G20 summit in Bali on Monday, Yellen said the measures would target 14 people and 28 entities.

Yellen declined to provide details on the identity or location of the alleged network or technologies involved, but said a more detailed announcement would be made later Monday.

“This is part of our broader effort to disrupt Russia’s war effort and deny the equipment it needs through sanctions and export controls,” Yellen told reporters.

The United States has already implemented a series of sanctions against Russia in response to its war in Ukraine, including measures targeting Russian military suppliers and American manufacturers of components used by Moscow in its military equipment.

Yellen said Washington would continue to support Ukraine with financial and economic assistance.

The Biden administration has sought congressional approval for an additional $4.5 billion in non-military aid to Ukraine, in addition to providing more than $19 billion in security assistance.

Yellen also said ending the war was the highest priority for the global economy.

“Ending Russia’s war is a moral imperative and the best thing we can do for the global economy,” she said.

Fuel and food prices, which have soared due to the conflict, are among the main items on the agenda of the G20 leaders’ summit, which begins on Tuesday.

Ukrainian President Volodymyr Zelenskyy said last week he was open to “genuine” peace talks with Russia, but only if those talks result in restoring Ukraine’s borders, compensation for Russian attacks and the punishment of those responsible for war crimes.

In an interview with the Wall Street Journal in Bali, Yellen said sanctions against Russia could be eased if there is a peace deal, but some measures are likely to remain in place even after the conflict ends “given the what happened”.

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