U.S. Warns Russia of More Sanctions as G-7 Talks Ukraine Aid: Bloomberg

U.S. Warns Russia of More Sanctions as G-7 Talks Ukraine Aid: Bloomberg

YEREVAN, April 11. /ARKA/. The U.S. threatened Russia with more sanctions over its incursion into Ukraine as global finance chiefs debated how best to deliver aid to the beleaguered former Soviet republic.

As Group of Seven finance ministers and central bankers met yesterday in Washington, U.S. Treasury Secretary Jacob J. Lew delivered the warning in talks with his Russian counterpart, Anton Siluanov. It was made just hours after Russian President Vladimir Putin threatened to halt gas shipments to Ukraine.

“Secretary Lew emphasized that Russia’s ongoing occupation and purported annexation of Crimea is illegal and illegitimate,” the Treasury said in a statement. “The United States is prepared to impose additional significant sanctions on Russia if it continues to escalate the situation in Ukraine.”

The standoff between Russia and the U.S. and its European allies is dominating talks of finance chiefs gathering for the spring meetings of the International Monetary Fund and World Bank, which start today. World Bank President Jim Yong Kim said yesterday that a prolonged crisis could cause the Russian economy to shrink as much as 1.8 percent this year. –0--

12:33 11.04.2014

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