CHICAGO—Treasury Secretary Janet Yellen said on Wednesday that the United States and Western allies have immobilized half of the assets of the Russian central bank and will continue to impose “severe consequences” on Russian President Vladimir Putin and the wealthy oligarchs who support him if he escalates his war in Ukraine.
Yellen, speaking in Chicago to promote President Joe Biden’s economic agenda, said the Treasury has “made it a priority to go after oligarchs or Russian elites who are key to President Putin’s corrupt power”.
