Yellen Warns of Global Economic Risks Amid Middle East Tensions

Treasury Secretary Janet Yellen cautions against potential global economic fallout from escalating tensions in the Middle East.

The Biden administration prepares new sanctions in response to Iran’s actions in the region.

Yellen condemns middle east country Iran’s “malign and destabilizing activity,” particularly in light of its recent missile and drone attack on Israel.

She emphasizes the importance of using economic tools to counter Iran’s actions and maintain regional stability.

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World leaders urge caution to prevent further violence, while the U.S. plans to strengthen air defense systems in the Middle East.

Yellen highlights ongoing efforts to sanction individuals and entities linked to terrorism and terrorist financing by Iran and its proxies.

Additional sanctions against Iran are expected to be announced soon.

The annual IMF and World Bank spring meetings coincide with other global conflicts, including Russia’s invasion of Ukraine.

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Yellen reiterates support for liquidating frozen Russian Central Bank assets for Ukraine’s reconstruction.

She also discusses ongoing concerns about Chinese industrial policy and plans to meet with Chinese counterparts to address economic issues and deepen ties between the nations-AP