NEW YORK, June 13 (Reuters) – U.S. Treasury Secretary Janet Yellen said Thursday that she believes the largest Chinese banks are mindful of U.S. sanctions against Russia and do not want to violate them, but added the U.S. will not rule out taking action if it deems it necessary.

“I think that the largest financial institutions in China have been trying to comply and have a very strong motive not to be designated,” as sanctions violators, Yellen told reporters after remarks following a speech at the Economic Club of New York.