United States Treasury Secretary Janet Yellen stated on Tuesday that sanctions imposed by the US and Canada are taking its toll on Russia's revenues and ability to "wage [its] illegal war."
In introductory remarks during the meeting with Canadian Deputy Prime Minister and Minister of Finance Chrystia Freeland, Yellen underlined that "significant progress" has been made in disrupting military supply chains, as Russian soldiers are being "forced to rely on outdated technology and suppliers of last resort like North Korea and Iran."
The secretary noted that Moscow's fiscal outlook seems "increasingly grim," adding that the price cap on Russian oil is already "cutting into Russia’s energy revenue."
