United States Treasury Secretary Janet Yellen said on Tuesday that the Biden administration will unveil a new package of sanctions against Russia next week, targeting entities supporting Russia's war effort, including intermediaries and third countries. "We have also significantly in recent months strengthened our sanctions so that we can now designate and sanction financial institutions in third countries that we see working to facilitate payments Russia makes to purchase goods it's acquiring for military purposes," she said, declining to confirm financial institutions will be targeted in the next sanctions package.
Yellen said the US is working "tirelessly" on the use of frozen Russian assets to help raise funds for Ukraine and that it is "very close" to securing a $20 billion loan for Kiev as part of the G7's promise to provide $50 billion.