U.S. Treasury Secretary Janet Yellen urged German bank executives on Tuesday to step up efforts to comply with sanctions against Russia and shut down efforts to circumvent them to avoid potential penalties themselves that would cut off dollar access.

FRANKFURT (Reuters) -U.S. Treasury Secretary Janet Yellen urged German bank executives on Tuesday to step up efforts to comply with sanctions against Russia and shut down efforts to circumvent them to avoid potential penalties themselves that would cut off dollar access.

It is also critical for the security of the American and European people," Yellen said in the excerpts. "If we stand by as dictators violate territorial integrity and flout the international rules-based order,

U.S. Treasury Secretary Janet Yellen urged European bank executives on Tuesday to step up their efforts to comply with moves to shut down Russia's evasion of sanctions.

The Treasury Secretary calls for a coordinated policy that keeps cheap goods from flooding both markets and sustains domestic manufacturing.

European bank leaders need to intensify their efforts to enforce measures to stop Russia's attempts to circumvent sanctions, accordig to the US Treasury Secretary Janet Yellen. In a statement for a meeting with bankers,