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.

Don't leave your news choices to an algorithm - decide for yourself what you read. Add 12punto to your preferred sources! Don't leave your news to an algorithmYou decide which source to read; add 12punto to your preferred sources.

US Treasury Secretary Yellen warns banks doing business with Russia

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.

News Source: 12punto