White House to meet banks, oil firms on Russia sanctions: report

White House

US President Joe Biden’s administration will brief banks, energy companies and other firms today, March 22, on the impact of Russia’s invasion of Ukraine and the ensuing sanctions, Bloomberg reported.

Treasury Secretary Janet Yellen, National Security Advisor Jake Sullivan and other top officials will host an off-record discussion with companies across several industries, the report cited an official as saying.

The companies are from fields of energy, refining, financial services and manufacturing sectors, the official said.

The US has led a global campaign to sanction Russia as a response to its invasion, disrupting supply chains, commodities markets and increasing inflationary pressures.

In addition, the White House called on energy suppliers to increase production after the price jump.

ExxonMobil, JPMorgan Chase, Bank of America and Marathon Petroleum are scheduled to attend the meeting, the report noted.