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U.S. imposing sanctions on military procurement network for Russia, says Yellen


U.S. Treasury Secretary Janet Yellen speaks during her interview with Reuters in New Delhi, India, November 11, 2022. REUTERS/Altaf Hussain

U.S. Treasury Secretary Janet Yellen said that the United States will impose new sanctions on a transnational network of individuals and companies that have been working to procure military technologies for Russia’s war effort in Ukraine.

Yellen told reporters on the sidelines of the G20 summit in Bali that the sanctions will target 14 individuals and 28 entities, including financial facilitators, but declined to provide details on where they are located. She said the announcement is scheduled for later on Monday.

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