The Biden administration’s escalation of sanctions could lead to Russia’s first default on foreign debt in a century.
Tag: Treasury Department
G7 Nations Pledge $20 Billion to Ukraine
Financing will be directed to keep government operations running amid the Russian war.
Treasury Secretary Yellen Looks to Get Global Tax Deal Back on Track
The Treasury secretary is traveling to Warsaw, Brussels and Bonn, Germany, this week at an uncertain time for the global economy.
Treasury Warns Foreign Banks Against Helping Russia Evade Sanctions
Adewale Adeyemo, the deputy Treasury secretary, met privately with international financial institutions to make clear the consequences of sanctions evasion.
Treasury Aims for Economic Pain on Russia, but Critics Question Effectiveness
The Treasury Department’s deputy secretary, Wally Adeyemo, has been leading the effort to crack down on evasion and to coordinate with Europe.
Yellen Says Aim Is ‘Maximum Pain’ for Russia Without Hurting U.S.
The Treasury secretary told a House committee that the U.S. would continue finding ways to punish Russia for its invasion of Ukraine.
U.S. Levels New Sanctions on Russian Tech Companies
Some of the new sanctions focus on organizations that supply or support Russia’s defense sector.
US Escalates Sanctions With a Freeze on Russian Central Bank Assets
The action is likely to fuel rapid inflation in Russia as it wages war in Ukraine.
Putin Faces Sanctions, but His Assets Remain an Enigma
On paper, the Russian president appears to own very little. Yet estimates put his hidden wealth well over $100 billion.
Ukraine Crisis: What Happens Next for the Rest of the World?
Europe faces a new refugee crisis, and harsh economic penalties to punish Russia are expected to reverberate worldwide.