'Indispensable advisor' to U.S. Treasury on sanctions against Russia resigns - Bloomberg
Elizabeth Rosenberg, an Assistant Secretary for Terrorist Financing and Financial Crimes at the U.S. Department of the Treasury (Photo: (flickr.com/armscontrolassociation)
Elizabeth Rosenberg, an Assistant Secretary for Terrorist Financing and Financial Crimes at the U.S. Department of the Treasury, who dealt with sanctions and policies combating financial crimes, is stepping down, according to Bloomberg.
Rosenberg, who returned to the U.S. Treasury at the beginning of Joe Biden's presidency after previous work in the ministry, was part of the main group of officials who developed economic measures in response to Russia's invasion of Ukraine, including freezing the assets of sovereign banks and restricting prices for Russian oil.
Rosenberg visited 25 countries, helping secure support for price constraints and convincing allies of the need for stricter adherence to sanctions and export controls on goods supplied to Russia.
The U.S. and its allies have imposed hundreds of sanctions and other financial and economic measures against Russia, causing damage to economic growth, oil sales revenue, and trade.
The U.S. Senate confirmed Rosenberg in December 2021 as Assistant Secretary for Terrorist Financing and Financial Crimes.
U.S. sanctions against Russia
The U.S. imposed sanctions against Russia in various sectors in response to the full-scale invasion of Russia into Ukraine. In particular, Western sanctions led to half of Russia's oil and petroleum product exports in 2023 going to China, while India's share increased to 40% in two years. Europe's share in Russia's oil exports fell roughly tenfold to about 4-5% from around 40-45%.
In October, the U.S. also imposed sanctions due to violations of the price ceiling during the sale of Russian oil.
