US Treasury Secretary Yellen: Will urge IMF/World Bank to increase econ pressure on Russia

US Treasury Secretary Yellen ahead of IMF/World Bank meetings this week says:Will urge IMF, World Bank members to increase economic pressure on Russia while mitigating spillover effectsWill Underscore US resolve to hold Russia’s accountable for war in Ukraine at IMF, World Bank meetingsSignificant focus of IMF/World Bank meetings will be Russia’s war against Ukraine along with what more can be done to support UkraineWill make clear benefits and privileges of world’s leading economic institutions or four countries respecting core principles of peace and security.Russia’s finance minister may virtually attend some sessions, but US has made clear it cannot be business as usualwill not attend some sessions of G 20 finance ministers meeting, but will attend portions supporting Ukrainedeeply concerned about Russia’s reckless war impact on global economy, including rising food insecurity in emerging markets, developing countriesYellen will hold bilateral meetings with Ukraine’s Prime Minister and finance minister this weekU.S. Treasury views estimates of 35% contraction in Ukraine economy as daunting, no escaping that Ukraine’s needs are very large and urgentU.S. Treasury will continue to impose sanctions that further restrict Russian economyYellen is concerned about energy insecurity, will discuss ways to restrict Russia’s use of energy revenues while providing allies time to find alternate energy sourcesU.S. Treasury will focus on coming days and weeks on going after those who attempt to evade sanctions on Russia, or facility invasionAlso working with allies to prevent sanctioned invaders from exploiting financial loopholes to hide their wealth/Inflation