US Treasury Secretary Janet Yellen says ending the war in Ukraine would be the “single best thing” for the global economy|Federalreserve|Public Domain Mark 1.0

US Treasury Secretary Janet Yellen announced new sanctions Monday on military networks that provide technology and aid Russia in its invasion of Ukraine.

Addressing the war at the G20 summit in Bali, which begins Tuesday, Yellen said the sanctions are a “part of our larger effort to disrupt Russia’s war effort and deny equipment it needs through sanctions and export controls.” 

The latest round of sanctions by the US would target around 14 people and 28 entities, with the Treasury Secretary urging that ending the war would be the “single best thing” to help global economic issues.