Andrea Shalal and David Lawder

WASHINGTON, (Reuters) – U.S. Treasury secretary Janet Yellen will skip sessions at this week’s G20 finance conference in protest of Russia’s attack on Ukraine. She will also urge members of the International Monetary Fund to put more pressure on Moscow. Two senior U.S. Treasury officials stated on Monday.

One official said that the Treasury Department would focus its efforts on those who seek to avoid the harsh sanctions placed on Russia for the war and on those who help facilitate these attempts.

According to the official, Yellen’s decision to skip sessions attended by Russian officials reflects America’s view that Russia should not be included in global financial institutions as a result of its invasion.

Anton Siluanov is the Russian Finance Minister. He may participate in at least a portion of the G20 meeting virtually, the official stated. The statement reiterates Yellen’s comments recently that Russia can not continue to be “business-as usual” with the G20 and other international institutions.

Yellen will participate in the G20’s finance session that examines the impact of Russia’s war in Ukraine on economic activity. The IMF has forecasted a 35% decline in Ukraine’s GDP this year. The official stated that even though Russian officials will be attending the session, it is important for Yellen and her allies to stand alongside them in support of Ukraine.

Washington and its allies will continue consultations regarding sanctions imposed against Russia. One official indicated that the focus of these discussions would be to stop evasion.

Although the official did not discuss next steps in detail, he stated that Russia would be subject to additional sanctions. These measures could include those targeting Russian industry sectors.

According to the Treasury Department, Yellen will chair a high-level group on Tuesday to examine the global response of the world to a Russia-invasion-exacerbated crisis in food security.

Moscow refers to the Ukrainian attack as “special military operation”.