Ukraine updates: U.S., allies push ahead with more sanctions
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The United States and its allies are pushing ahead with sanctions aimed at forcing Vladimir Putin to spend Russia's money propping up its economy rather than sustaining its 'war machine' for the fight in Ukraine, a top Treasury Department official said Tuesday.
WASHINGTON -- The United States and its allies are pushing ahead with sanctions aimed at forcing Vladimir Putin to spend Russia's money propping up its economy rather than sustaining its "war machine" for the fight in Ukraine, a top Treasury Department official said Tuesday.
Deputy Treasury Secretary Wally Adeyemo, one of the main U.S. coordinators on the Russian sanctions strategy, said in an interview with The Associated Press that the goal is to make Russia "less able to project power in the future."
On the same day that inflation notched its steepest increase in decades, Adeyemo said reducing supply chain backlogs and managing the pandemic are key to bringing down soaring prices that he related to the ongoing land war in Ukraine, which has contributed to rising energy costs.
Adeyemo discussed the next steps the U.S. and its allies will take to inflict financial pain on Russia -- and the complications the war has on rising costs to Americans back home.
