Diplomacy
Treasury Secretary Janet Yellen will travel to South Korea in mid-July to discuss Russia and supply chains.
Sanctions
The Treasury Department blocked a trust worth over $1 billion that belongs to sanctioned Russian oligarch Suleiman Kerimov.
Commerce Secretary Gina Raimondo said that global exports of semiconductors to Russia have dropped by 90%.
Consequences
Russia is weighing buying “friendly” currencies with oil and gas revenues to stem a ruble rally.
Ukraine Sitrep
Russian forces withdrew from “Snake Island” in the Black Sea in the wake of Ukrainian attacks.