Treasury’s Yellen says Russia’s war has weakened its economy ‘for years to come’
2022-10-14 07:53:38 source：CNBC
October 13, 2022
Treasury Secretary Janet Yellen says Russia’s war against Ukraine has weakened its economy and slowed the nation’s growth prospects for the foreseeable future.
“The Russian economy is projected to contract this year and the next,” Yellen said Thursday before a meeting with European economic officials at the International Monetary Fund and the World Bank annual meeting in Washington, D.C.
Historic sanctions imposed by the U.S., the European Union and allies against Russia for its unprovoked invasion of Ukraine have cut the nation off from Western capital markets with the larger goal of depriving Russian President Vladimir Putin of the revenue he needs to finance the war, Yellen said.
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