FRANKFURT – Secretary of the Treasury Janet L. Yellen today convened a roundtable with German financial executives to discuss global macroeconomic trends and financial sector risks, including illicit finance and Russian sanctions evasion.
During the meeting, participants exchanged views on commercial real estate developments, business banking, the German and European economies, U.S. and European trade with China, and the implementation of multilateral sanctions against Russia by the German financial sector.
Secretary Yellen emphasized the United States' priorities in mitigating risks to financial stability and highlighted the importance of industry perspectives. She also underscored the critical role financial institutions play in disrupting Russia’s capacity to continue its "brutal, unjust, and illegal war" through stringent measures against sanctions evasion aimed at preventing Russia from acquiring sensitive battlefield goods.
Executives from Commerzbank, Deutsche Bank, Deutsche Börse, DZ Bank, KfW, Goldman Sachs, and J.P. Morgan joined Secretary Yellen in these discussions.
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