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ARTICLE · 04 APRIL 2023

Sanctions Weekly Update – Ukraine/Russia Conflict – March 20, 2023

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Secretary Yellen Testifies to Congress on Biden Administration Commitment to Sanctions Program: Secretary of the Treasury Janet L. Yellen testified before the Senate Financial Services...

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Tamer A. Soliman
Tamer A. Soliman
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Jason Hungerford
Paulette Vander Schueren
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Gretel Echarte Morales
Gretel Echarte Morales
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Anjani D. Nadadur
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Week of March 20, 2023

I. US SANCTIONS

  • Secretary Yellen Testifies to Congress on Biden Administration Commitment to Sanctions Program: Secretary of the Treasury Janet L. Yellen testified before the Senate Financial Services and General Government Subcommittee on March 22, and before the House Financial Services and General Government Appropriations Committee on March 23. In her testimony, she highlighted the Treasury's continuous effort to "mount a swift, bold, and enduring response to Russia's illegal war against Ukraine", including its implementation of over 2,500 Russia-related sanctions since last February. The Biden administration's Fiscal Year 2024 Budget also aims to maintain that effort, with $244 million requested for the Office of Terrorism and Financial Intelligence to continue to administer and enforce the sanctions regime and to expand financial intelligence and sanctions-related economic analysis, and another $229 million requested for FinCEN to

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