US is ready to impose severe sanctions on Russia: Treasury Department

“The US Treasury Department is prepared to impose severe sanctions on Russia without delay if the country invades Ukraine,” Janet Yellen, the head of the Department, announced.

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Ms Yellen, who is due to attend the online session of the World Economic Forum - Davos Agenda on Friday, assured that all instruments of pressure on the Kremlin could be used without delay. She also said that the Department she leads works closely with its European allies to “better identify sensitive areas.”

Joe Biden has already warned Russia

“President Joe Biden has already announced that we will impose severe restrictions on Russia if it invades Ukraine,” she reminded, also expressing her hope that Moscow would seek diplomatic solutions to this situation.

However, she did not comment on the controversial words of Joe Biden that in the event of a “minor incursion” on Ukraine, the reaction of the West would be adequately insignificant.

The American politician assured that Washington is working with European allies who have stronger economic ties with Russia also to understand their concerns about possible economic and financial sanctions on their economies and will take them into account when designing responses to the Kremlin’s undesirable actions.