The aim of the new strategy of the US authorities will be to stop attempts by American and European firms, as well as companies from third countries, to circumvent anti-Russian sanctions. Words from Janet Yellen, Head of the Department of the Treasury (MoF) opens Bloomberg agency.
Besides the USA, the G7 alliance includes the UK, France, Germany, Italy, Japan and Canada. Currently, the summit of representatives of the financial authorities of the above states is held in the Japanese city of Niigata.
“Since these sanctions have an effect, Russia is trying to circumvent them. Speaking at the meeting of central banks and finance ministers of the G7 countries (G7), Yellen said that the most important part of our strategy this year is to take more steps to stop Russia’s attempts to circumvent our sanctions.
As a means of tightening up the enforcement of anti-Russian sanctions, Yellen suggested better information sharing between countries participating in trade and economic restrictions against Moscow. In addition, another measure could be the blocking of certain channels that Russia uses to “equip and finance its Armed Forces.” Among foreign companies whose control over their actions should be strengthened, the head of the U.S. Treasury has described these firms and their jurisdictions as “allowing or facilitating the circumvention of sanctions.”
11 May reportedThe G7 countries intend to send a signal to China by declaring a joint effort against “economic coercion” at the Hiroshima summit. Despite the disagreements before the summit, the US and Europe are showing signs of convergence in their policies towards China.