US Treasury Secretary Yellen warns banks doing business with Russia
US Treasury Secretary Yellen stated that doing business with Russia exposes European banks to significant risk.
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Janet Yellen stated that doing business with Russia exposes European banks to significant risk.
Speaking to Reuters, Yellen said that the US is considering strengthening its secondary sanctions on banks found to be facilitating transactions related to Russia's war efforts.
Yellen said, "We are considering potentially tougher sanctions on banks doing business in Russia."
Yellen did not provide details regarding the names of the banks that could be targeted by the sanctions.