US Treasury Sec. Yellen: Sanctions imposed with Western allies are isolating Russia's economy

US Treasury Secretary Janet Yellen said on Thursday, “sanctions imposed with Western allies are isolating Russia's economy and degrading its productive capacity.”

Additional quotes

US will provide $10 billion in new economic aid to Ukraine in coming months.

Economic aid from US, allies is enabling ukraine's resistance by keeping govt running, funding critical public services.

Critical that IMF move swiftly on a fully financed programme for Ukraine, will promote 'continued robust support' at G20 meetings.

Global economic outlook has improved since last G20 meetings in October, some spillovers from Ukraine war have been mitigated.

Western price caps on Russian oil have helped cut Moscow's oil revenue by 60%.

Will continue to push China, other bilateral creditors for 'meaningful debt treatment' for distressed developing countries.

Will discuss how G20 can advance World Bank reforms to boost finance to fight climate change, other global challenges.