Glenn acknowledges US sanctions on Russia would have ‘global complications’

LAST UPDATE: 08.32

US Treasury Secretary Janet Yellen has acknowledged that imposing massive sanctions on Russia by the United States and its allies in the event of a Russian invasion of Ukraine would have “global complications” during an interview with AFP.

“Obviously we want pressure to be put on Russia above all. But we recognize that these sanctions will also have global implications,” said Finance Minister Joe Biden, referring to the “sanctions package” targeting individuals and companies in the financial sector. is being prepared by Washington in coordination with the Europeans.

He said the “package” would “undoubtedly restrict Russia’s exports”.

Joe Biden warned on Tuesday that Western sanctions against Russia in the event of an invasion of Ukraine “are ready”. He referred to “strong” measures that would hit the financial sector and “key industries”.

“The Treasury Department was involved in the preparation of the financial sanctions package,” she said, adding that “we have worked very closely with our European allies.”

“We have agreed on a package of sanctions that” will have very serious consequences for the Russian economy, “he said, adding that” we have secured very strong support from our European partners “and” we will move forward together. ”

“More broadly, the minister is concerned about the impact that geopolitical tensions will have on energy prices, at a time when the United States is facing the highest inflation in 40 years.”

“We are concerned about the potential impact on energy markets, given Russia’s important role as a supplier of oil to the world market and gas in Europe,” he explained.

He clarified that Washington is cooperating “with the European allies” to ensure “the best possible protection” from the possible consequences.

The aim is to have “supplies available” from “other parts of the world” and to continue to supply Europe “with oil and gas” without hindrance.

SOURCE: AMPE