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Statement Of Treasury Secretary Jacob J. Lew - Ukraine


Location: Washington, DC

"Rather than take the path of diplomacy and de-escalation, Russia has chosen to intensify its efforts to destabilize Ukraine in the face of a terrible tragedy - one for which it bears substantial responsibility. Today's strong actions, taken in solidarity with our European allies, are a clear response to the Russian government's continued brazen actions. We have seen sanctions bring the Russian economy to a standstill through a large and broad-based deterioration of Russian financial assets; capital flight that already exceeds all of last year; and a significant increase in Russian borrowing costs. These actions are designed to demonstrate the unity of the international community and the increasing isolation of Russia. We are prepared to take additional actions if Russia does not take steps to resolve this crisis."

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