On the sidelines of the G20 summit in Bali, Yellen told the media that 14 individuals and 28 legal entities, including financial intermediaries, would be subject to sanctions. She declined to provide details of their whereabouts, saying an announcement would be made later today.
The measures are part of an overall U.S. effort to hinder Russia’s military efforts and prevent Moscow from acquiring the necessary equipment, Yellen stressed.
The U.S. Treasury Department has imposed sanctions on major Russian military-industrial enterprises, and the Commerce Department has suspended exports of U.S.-made components and U.S. technology used in some of Russia’s military facilities.
Yellen said these measures are already having an impact on the battlefield in Ukraine. The Finance Minister also added that the US will continue to provide Ukraine with financial and economic assistance.
The Biden administration has requested an additional $4.5 billion in non-military aid to Ukraine, and Yellen said that once it gets congressional approval, the Treasury Department will begin disbursing it to Kyiv immediately.