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5/18, 3:36 PM (Source: TeleTrader)
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Yellen: US to 'maximize' sanctions' impact on Russia

The United States will continue to maximize the impact of sanctions on Russia over the military operation in Ukraine, United States Treasury Secretary Janet Yellen declared on Wednesday ahead of the G7 Finance Ministers and Central Bank Governors meeting.

Asked about the topic, Yellen further expressed that her government will continue to look into the energy sanctions with the allies. "Discussions are ongoing," she said while adding that "all of us share the objective of diminishing the revenues that Russia will have to buy goods and services."

Going to other topics, she also analyzed the global economic outlook, which she defined as "challenging" and "uncertain." However, she expects a significant supply response to rising prices, specifically in the oil market.

Baha Breaking News (BBN) / JG