Yellen Sees ‘Opportunity’ for Action Against Russia in Softer Oil Market
- Treasury chief sees loan to Ukraine remaining in place
- Outgoing administration is weighing new, harsher sanctions
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US Treasury Secretary Janet Yellen said that a softer global oil market might create an opportunity for further action against Russia’s energy sector, as the US continues its efforts to impair Moscow’s ability wage war against Ukraine.
“What’s unusual about this moment is that the oil market seems to be well supplied. Prices are relatively low, global demand is down and there really has been an increase in supply,” Yellen said in an interview with Bloomberg Television on Wednesday. “So the global oil market is softer and that creates possibly an opportunity to take some further action.”