(Reuters) – The Russian ruble’s close to full restoration in current weeks isn’t a sign that the Russian economic system is weathering the sanctions Washington and its allies have imposed since Russia invaded Ukraine, U.S. Treasury Secretary Janet Yellen mentioned on Wednesday.

The Russian economic system is “reeling” from the sanctions imposed after the late February invasion, Yellen informed the Home Monetary Providers Committee. The marketplace for rubles has develop into so distorted by actions of the Russian authorities and its central financial institution to restrict capital outflows that “you shouldn’t infer something” from the worth of the ruble, which fell to a report low towards the U.S. greenback instantly after the invasion however has since retraced most of these losses.