By FATIMA HUSSEIN – Associated Press
WASHINGTON (AP) — Treasury Secretary Janet Yellen will visit the Indo-Pacific this month for the first time since taking over the department and will use the trip to advocate for a cap Russian oil prices aimed at reducing Kremlin revenues. as it continues its attack on Ukraine.
Yellen will address the economic and humanitarian challenges posed by Russia’s war in Ukraine as she represents the United States at Group of 20 finance ministers meetings on the Indonesian resort island of Bali and makes additional stops in Tokyo and Seoul, South Korea. During the July 12-19 trip, Yellen will notably avoid traveling to China, although she held a call with the Chinese vice premier on Monday.
Yellen criticized China’s economic relationship with Russia – urging China to use its “special relationship with Russia” to persuade Russia to end the war in Ukraine.
People also read…
Unlike the G-7 leaders’ meetings in April, the G-20 will involve participating countries that are not united in action against the war in Ukraine. China, India, South Africa and Brazil have largely resisted signing off on efforts by the United States and its allies to punish Russia for its invasion. Russia is also expected to participate.
Yellen will also visit an LG factory in South Korea and deliver a speech on the importance of strong international partnerships in building supply chains. LG announced plans in April to build a $1.4 billion battery factory in Queen Creek, Arizona.
Yellen’s trip to Asia will come days after the death of former Japanese Prime Minister Shinzo Abe. Abe, a divisive arch-conservative and one of his country’s most powerful and influential figures, was shot from behind during a campaign speech Friday in western Japan, according to state broadcaster NHK. .
Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.