Yellen called on the West to urgently find a way to send Russian assets to Ukraine. Yellen also argued that limiting Russia's access to funds and resources would "encourage" Moscow to come to the negotiating table.

Earlier, British Prime Minister Rishi Sunak called for West to be bolder in confiscating Russian assets. The US Treasury Secretary was speaking at a press conference dedicated to the upcoming meeting of G20 finance ministers and central bank governors in Sao Paulo, Brazil. The meeting is scheduled to take place from November 18-20.