The size of Russia's economy and the economic ties it has with the allies of the United States present a challenge in using financial measures to hold Moscow accountable for its special military operation in Ukraine, US Assistant Treasury Secretary for Terrorist Financing and Financial Crimes Elizabeth Rosenberg said during a congressional hearing on Wednesday
WASHINGTON (Pakistan Point News / Sputnik - 28th September, 2022) The size of Russia's economy and the economic ties it has with the allies of the United States present a challenge in using financial measures to hold Moscow accountable for its special military operation in Ukraine, US Assistant Treasury Secretary for Terrorist Financing and Financial Crimes Elizabeth Rosenberg said during a congressional hearing on Wednesday.
"Fundamentally, the challenge we face in using financial measures to hold Russia accountable," Rosenberg said in a prepared testimony to the US Senate Foreign Relations Committee. "Moreover, Russia is a sizable international economy, a globally important energy producer, and over the last 30 years has grown closely tied - and in some instances inextricably intertwined - with some of our closest international partners and allies."
Rosenberg said the imposition of financial costs on Russia has required "extraordinary planning, coordination, economic analysis and diplomacy, and creative policymaking."
On February 24, Russia launched a special military operation in Ukraine after the breakaway republics of Donetsk and Luhansk requested help to defend them from intensifying attacks by Ukrainian forces. Russia said the aim of the special operation is to demilitarize and de-Nazify Ukraine and it targets solely the country's military infrastructure. In response, Western countries have imposed a comprehensive sanctions regime against Russia.
