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America’s New Sanctions Strategy

How Washington Can Stop the Russian War Machine and Strengthen the International Economic Order

On the morning of Sunday, February 27, U.S. Treasury Secretary Janet Yellen sat huddled in a secure room with a group of other senior Treasury officials—including me—to discuss a set of extraordinary economic and financial measures against the Russian Federation.

  • Wally Adeyemo
  • Foreign Affairs

A few days earlier, Russia had invaded Ukraine, a stark and violent transgression of international law.

At the direction of U.S. President Joe Biden, the Department of the Treasury had already imposed full blocking sanctions on a number of Russia’s largest banks, put…

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