Sanctions Can Be Problematic, But Russia Measures Are Multilateral - US Treasury Official

Sumaira FH Published June 07, 2023 | 11:13 PM

Unilateral sanctions can create problems such as supply chain issues, but the US measures against Russia are multilateral, Under Secretary of the Treasury Jay Shambaugh said on Wednesday

WASHINGTON (UrduPoint News / Sputnik - 07th June, 2023) Unilateral sanctions can create problems such as supply chain issues, but the US measures against Russia are multilateral, Under Secretary of the Treasury Jay Shambaugh said on Wednesday.

"I agree that unilateral sanctions can be problematic," Shambaugh said at the 2023 Global Impact Forum hosted by the US Global Leadership Coalition.

However, he called recent sanctions related to the conflict in Ukraine "very multilateral," saying those restrictions were designed in a way that would help to avoid implications for food and other humanitarian issues.

Shambaugh avoided answering a question about whether he was surprised by Russia's resilience in the face of Western sanctions.

Earlier on Wednesday, experts and former officials told the US Congress that US sanctions had made adversaries in foreign capitals more aware of the strategic vulnerabilities of the US Dollar.

Syracuse University Associate Professor Daniel McDowell said sanctions measures not only fail to achieve their objectives, but have also encouraged modest levels of de-dolalrization.