U.S. Treasury Secretary Janet Yellen announced new sanctions on individuals and companies supplying military technology to Russia, reports Reuters.

Speaking on the sidelines of the G20 summit in Bali, Yellen said the measures would target 14 individuals and 28 organizations. She declined to provide details but said a more detailed announcement would be made later Monday. "This is part of our larger effort to disrupt Russia's war effort and deny equipment it needs through sanctions and export controls," Yellen told reporters.

She said Washington will continue to provide financial and economic assistance to Ukraine.

The Biden administration has sought congressional approval for an additional $4.5 billion in nonmilitary aid to Ukraine, in addition to providing more than $19 billion in security assistance.

Yellen also said that ending the war is the biggest priority for the world economy. "Ending Russia's war is a moral imperative and the single best thing we can do for the global economy," she said.

Fuel and food prices, which have risen sharply because of the conflict, are among the key issues on the agenda of the G20 leaders' summit, which begins Tuesday.

In an interview with the Wall Street Journal in Bali, Yellen said sanctions against Russia could be eased if there is a peace agreement, but some measures should probably remain in place even after the conflict ends, given what happened.