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U.S. Treasury Secretary Janet Yellen on Wednesday warned countries “sitting on the fence” on Russia not to undermine the sanctions the West has put in place.
“While many countries have taken a unified stand against Russia’s actions and many countries have quickly and voluntarily severed business relationships with Russia, some countries and companies have not,” Yellen said, in remarks prepared for delivery to the Atlantic Council.
“Let me now say a few words to those countries who are currently sitting on the fence, perhaps seeing an opportunity to gain by preserving their relationship with Russia and backfilling the void left by others. Such motivations are short-sighted,” she said.
“The unified coalition of sanctioning countries will not be indifferent to actions that undermine the sanctions we’ve put in place,” Yellen said.
The West has put in place unprecedented financial sanctions against Russia and its central bank designed to isolate the country from the international community.
“The Kremlin will be forced to choose between propping up the economy and funding the continuation of Putin’s brutal war,” Yellen said.
