Deputy U.S. Treasury Secretary Wally Adeyemo says the United States will continue take actions to put pressure on Russia’s economy and take away resources from Russian President Vladimir Putin’s invasion of Ukraine.
Asked if the Biden administration would meet Ukrainian President Volodymyr Zelenskiy’s demands to close international waterways for Russia and to implement a full trade embargo against Moscow, Adeyemo said the US would take actions consistent with Zelenskiy’s goals, but declined to be specific.
He said pressure on the Russian economy would be kept up in order to stop their ability to project power.
The Treasury’s No. 2 official said that Western sanctions were already causing a “financial crisis” in Russia that is forcing difficult decisions on how it finances its war efforts.
Russia has two dollar-denominated bond payments due on Wednesday and has said it is prepared to pay in roubles – a move tantamount to a default.
He added that Russia currently is in a position where they are going to have to make choices about what debts they pay going forward and those choices will ultimately put Putin in a position where he has to make a decision about whether he continues the invasion or stops that invasion.
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