Yellen says Iran’s actions could cause global ‘economic spillovers’ and warns of more sanctions

By FATIMA HUSSEIN
Associated Press

WASHINGTON (AP) — Treasury Secretary Janet Yellen is warning of potential global “economic spillovers” from rising tensions in the Middle East. She’s also pledging that the U.S. and its allies won’t hesitate to use their sanctions powers to address Iran’s “malign and destabilizing activity” in the region. Yellen made her remarks Tuesday as global finance ministers and central bankers gather for meetings in Washington this week to discuss the global economic challenges of the day. The annual gathering of the International Monetary Fund and World Bank is taking place as other ongoing conflicts, including Russia’s invasion of Ukraine, also threaten global financial stability.