Secretary of the Treasury affirms that 80% of assets of Russian banks are sanctioned by the US.

The US Secretary of the Treasury, Janet Yellen, stated that 80% of the assets of Russian banks are “under the restrictions” of the department she directs, after the sanctions imposed by the invasion of Ukraine.

Speaking at the Chicago Innovation Center, he noted that “between Sunday and Monday morning” The United States and its allies have frozen half the assets of the Russian central bank. “Russia is increasingly becoming an economic island“, said.

He also mentioned the sanctions imposed this Wednesday by his country against the Russian oligarchs “that are key to the corrupt power of President (Vladimir) Putin.”

“We have sanctioned many of these individuals and are working with our colleagues at the Department of Justice and our international allies to uncover, freeze and seize their wealth around the world.”, he pointed.

Yellen also warned that if Putin continues with his invasion of Ukraine, the allies, including the United States, will remain faithful to their commitment to continue imposing “severe consequences” to Russia and hold Putin accountable for his illegal and immoral actions.

The United States announced on Wednesday sanctions on 22 entities related to the Russian defense sector and restrictions on the export of technology that Russia can use to refine oil.

Last Thursday, US President Joe Biden announced sanctions against five major Russian financial entities, including the country’s two largest banks, as well as oligarchs close to the Kremlin, in response to the Russian invasion of Ukraine.

For its part, the European Union (EU), in coordination with the United States, has launched a historic battery of sanctions against Russia, to which this Wednesday, almost a week after the military invasion, they have joined with its entry into force the suspension of RT and Sputnik broadcasts and the exclusion of seven Russian banks from the Swift system.