Restrictions by the U.S. and its allies have led to a fall in more than half of Russia’s imports of high-tech goods and parts, hurting its manufacturing and military sectors, a Biden administration official said.
Ukraine Prime Minister Denys Shmyhal told global policy makers it would cost $600 billion for his country to rebuild. U.S. Treasury Secretary Janet Yellen said it might be possible to get Russia to foot part of that bill, adding Europe should be “careful” about a ban on Russian oil that could hurt the world economy.