Yellen urges German banks for stricter Russia sanctions
US Treasury Secretary Janet Yellen has urged executives of German banks to enhance efforts to comply with sanctions against Russia, Reuters reported on Tuesday.
Yellen emphasised on the need to prevent Russian evasion attempts and curb their access to critical goods. Yellen’s warning follows Austria’s Raiffeisen Bank dropping a deal involving a Russian tycoon due to US pressure.
The Treasury aims to disrupt sanction evasion across Europe, particularly through China, the UAE, and Turkey. Yellen also discussed global economic resilience and financial stability during her visit to Frankfurt.
