Russian Oil Price Cap On Agenda For Treasury Sec Yellen's Indo-Pacific Trip

The US Treasury Department has released a schedule for US Treasury Secretary Janet Yellen’s upcoming July12 through July 19 trip to the Indo-Pacific region. Yellen will attend the G-20 finance ministerial and hold bilateral meetings with Japanese and Korean counterparts. It will be Yellen’s first trip to the region.

• According to the Treasury Department, Yellen will use the trip to "advance key US economic and national security interests.”
• Yellen will discuss “opportunities to further strengthen sanctions” on Russia and discuss “with partners a price cap on Russian oil…”
• July 12: Yellen with meet with Japanese Minister of Finance Suzuki Shunichi in Tokyo and participate in a roundtable with business leaders. At the event Yellen will “deliver a speech on how bolstering supply chain resiliency and expanding friend-shoring … can help ease inflationary pressures over time.”
• July 13: Yellen will travel to Bali, Indonesia for the G20 Finance Ministers and Central Bank Governors Meeting.
• July 19: Yellen will meet with a delegation from the Republic of Korea, including Minister of Economy and Finance Choo Kyung-ho and Bank of Korea Governor Rhee Chang-yong.