WASHINGTON, March 4 (Reuters) – U.S. Treasury Secretary Janet Yellen said on Friday that a guiding principle for sanctions against Russia in response to its invasion of Ukraine was causing “acute harm” to Russia’s economy while limiting spillovers that could harm Americans and Europeans.
Yellen also said during a presentation to a Stanford University economics conference it was crucial to work with U.S. allies on a package that could be escalated in response to Russian President Vladimir Putin’s actions, resulting in harsh sanctions on Russia’s central bank. (Reporting by David Lawder Editing by Chris Reese)
