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IMFC Fails To Agree On Communique; Yellen Speaking On Russia, Supply Chains


BBC's Faisal Islam tweets: "IMFC committee not been able to agree a communique amid disagreements over wording of support for Ukraine… its been blocked, which I think has no precedent. G20 communique also blocked

Understand Russian delegation just been speaking here in DC, to protest from many others.."

  • Russia sits as a member of the IMFC at present, allowing it to block the communique, which required unanimous approval from all committee members.
  • Islam also reports comments from US Treasury Secretary Janet Yellen (livestream here):
    • Yellen - we are tightening the vice on Russia by targeting networks used to evade sanctions…
    • Yellen: Im deeply concerned about food security for developing countries - we are doing everything we can… need to address 275m affecting acute food insecurity, and 800m facing chronic food security
    • Yellen - we need to be careful when talking about a complete European ban on say Russian oil imports… raising oil prices could damage Europe and could have v little negative impact on Russia
    • Yellen says Russia could be made to pay the cash “one way or another” for massive Ukraine rebuilding costs

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