Ukraine: US, G7 to increase pressure on Russia

 

The United States has pledged to work with Germany, France, and other G7 partners to significantly escalate pressure on Russia to end the war in Ukraine.

Secretary of the Treasury Scott Bessent gave the commitment on Tuesday during a meeting with the Prime Minister of Ukraine, Yulia Svyrydenko.

Bessent reaffirmed the American government’s unwavering support for Ukrainian sovereignty and emphasized the dedication to securing a lasting peace.

He commended the prime minister for her continued support of the U.S.-Ukraine Reconstruction Investment Fund and stressed the importance of regular U.S.-Ukraine engagements.

Bessent urged European allies to ramp up their pressure campaign not only against Russia, but also against any country that finances the conflict through purchases of Russian oil.

Svyrydenko and her delegation are in Washington, D.C. to discuss strengthening Ukraine’s air defenses, strike capabilities, and energy cooperation ahead of winter.

Meanwhile, the U.S. Treasury’s Office of Foreign Assets Control and Financial Crimes Enforcement Network, alongside Britain’s Foreign, Commonwealth, and Development Office, have designated “Prince Group.”

OFAC has sanctioned 146 targets within the transnational criminal organization, a Cambodia-based network accused of targeting Americans and other nationals via online scams and money laundering.

Additionally, FinCEN has severed a Cambodia-based Huione Group from the U.S. financial system, for “laundering proceeds of virtual currency scams and heists on behalf of malicious cyber actors.”

In a statement on Tuesday, Secretary Bessent said the rapid rise of transnational fraud has cost U.S. citizens billions of dollars, with life savings wiped out in minutes.

“Working in close coordination with federal law enforcement and international partners like the United Kingdom, Treasury will continue to lead efforts to safeguard Americans from predatory criminals,” he assured.