Janet Yellen, U.S. Secretary of Treasury speaks with South Africa’s Finance Minister Enoch Godongwana earlier than their bilateral assembly on the sidelines of the G20 Finance Ministers Assembly in Nusa Dua, Bali, Indonesia July 16, 2022. Sonny Tumbelaka/Pool through REUTERS

NUSA DUA, Indonesia, July 16 (Reuters) – U.S. Treasury Secretary Janet Yellen stated on Saturday she had productive conferences a couple of proposed worth cap on Russian oil with a bunch of nations on the sidelines of a gathering of the finance chiefs of the Group of 20 main economies.

Yellen stated her bilateral conferences and the general G20 periods in Indonesia centered on the human and financial price of Russia’s invasion of Ukraine, with the US and different international locations “unequivocal in condemning their (Russia’s) shameful actions.”

Russia says it’s engaged in a “particular navy operation” in Ukraine.

The U.S. Treasury Division stated Yellen met finance leaders from Saudi Arabia, Australia, South Africa, Turkey, and Singapore. She additionally had dinner with Canadian Finance Minister Chrystia Freeland, a Treasury official stated.

“On power prices, I had productive bilateral conferences with over a half-dozen of my counterparts the place we mentioned the deserves of a worth cap and the way it may also help us obtain our targets of denying (Russian President Vladimir) Putin income for his battle machine, whereas dampening power prices,” Yellen informed reporters exterior the assembly venue.

She stated a worth cap was one among “our strongest instruments to handle the excessive costs persons are dealing with in America and all over the world.”

Yellen stated she additionally underscored the significance of taking motion on the G20 to handle the worldwide meals safety disaster. learn extra

Yellen met Saudi Finance Minister Mohammed Al-Jadaan, Australian Treasurer Jim Chalmers, South African Finance Minister Enoch Godongwana, Deputy Prime Minister Lawrence Wong of Singapore and Turkish Finance Minister Nureddin Nebati, the Treasury stated.

Russia’s says its motion in Ukraine are supposed to root out what it regards as harmful nationalists and demilitarise its neighbour. Ukraine and its Western allies say that could be a baseless pretext for an unprovoked battle of aggression. learn extra

Reporting by Andrea Shalal, Modifying by Jane Merriman, Mark Potter and Timothy Heritage

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