AP Finance
Treasury deputy: Russia sanctions are degrading its military
American and allied sanctions and export controls are constraining Russia’s ability to wage war on Ukraine by degrading its military, a top Treasury Department official said Tuesday, adding that more sanctions will be imposed on the Kremlin in the coming days. Treasury Deputy Secretary Wally Adeyemo said at the Council on Foreign Relations in Washington that as the war on Ukraine nears the one-year mark, U.S. sanctions are effectively resulting in military losses for Russia by straining its military machine. Russia is the world’s second-largest arms producer after the United States, but Adeyemo asserted that “today, Russia can’t produce enough arms to meet their basic needs and to be a supplier to the countries that rely on them.”
