Yellen vows tough U.S. measures against countries abusing economic order
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By Andrea Shalal
SEOUL (Reuters) -The US will impose harsh penalties on international locations that break the worldwide financial order, Treasury Secretary Janet Yellen stated on Tuesday.
“Financial integration has been weaponised by Russia,” she stated, calling for all accountable international locations to unite in opposition to Russia’s conflict in Ukraine.
The US is pushing for elevated commerce ties with South Korea and different trusted allies to enhance the resilience of provide chains, and avert potential manipulation by geopolitical rivals, Yellen instructed Reuters on Monday.
Yellen stated in remarks ready for the occasion she was heartened by conversations with Korean counterparts on a proposed cap on the value of Russian oil.
Yellen has stated she’s going to focus on the oil worth cap proposal with high officers in Seoul.
On Tuesday morning, Yellen was hosted by LG Chem CEO Hak Cheol Shin in a tour of LG services in Seoul.
Yellen, an avid collector of rocks, listened attentively as Shin defined the method of constructing electrical autos, together with the necessity for lithium.
LG Chem, moreover being the mum or dad firm of electrical car battery maker LG Power Answer, additionally has battery supplies and petrochemical companies.
Yellen is in South Korea on the ultimate leg of her 11-day go to to the Indo-Pacific area.
(Reporting by Andrea Shalal; Writing by Joyce Lee; Enhancing by Himani Sarkar and Stephen Coates)
