US 'Constantly Tightening' Sanctions on Russia, Yellen Says
December 12, 2024
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0:43Now PlayingUS 'Constantly Tightening' Sanctions on Russia, Yellen Says
YouTube Description
as posted by the channelUS Treasury Secretary Janet Yellen said that a softer global oil market might create an opportunity for further action against Russia's energy sector, as the US continues its efforts to impair Moscow's ability wage war against Ukraine.
"What's unusual about this moment is that the oil market seems to be well supplied. Prices are relatively low, global demand is down and there really has been an increase in supply," Yellen said in an interview with Bloomberg Television on Wednesday. "So the global oil market is softer and that creates possibly an opportunity to take some further action."
The Biden administration's sanctions regime on Russia has long been aimed at both restricting the revenue that Moscow gets while also avoiding a sharp constriction of global oil supplies that put upward pressure on prices at a time of elevated inflation.
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