US Treasury Secretary Janet Yellen acknowledges 'some global fallout' from any Russia sanctions

US Treasury Secretary Janet Yellen says "some global fallout" would result if the West moves ahead with the punishing, coordinated sanctions threatened against Russia, should it attack Ukraine.

If the penalties are imposed, "of course, we want the largest cost to fall on Russia," Yellen said in an interview.

"But we recognize that there will be some global fallout from sanctions," she told AFP.

Her comments echoed President Joe Biden's warning on Tuesday that an escalation of the conflict would not be "painless" for Americans.