Market Analysis

U.S. Treasury Secretary Janet Yellen, addressing European bank executives, called for intensified efforts in complying with measures aimed at thwarting Russia's attempts to evade sanctions. 

Yellen emphasized the effectiveness of secondary sanctions implemented since December in impeding Russia's procurement efforts for its actions in Ukraine, while stressing the need for continued vigilance.

"I urge all institutions present to enhance their compliance measures and to bolster their vigilance against Russian evasion tactics," Yellen stated in prepared remarks. "I emphasize the importance of rigorously enforcing global sanctions compliance policies across all international branches and subsidiaries."

Paraphrasing text from "Reuters" all rights reserved by the original author.