Yellen vows tough U.S. measures against countries abusing economic order

U.S. Treasury Secretary Janet Yellen speaks in the course of a news meeting, forward of the G20 Finance Ministers and Central Financial institution Governors Conference, in Nusa Dua, Bali, Indonesia, July 14, 2022. Built Nagi/Pool via REUTERS

SEOUL, July 19 (Reuters) – The United States will impose harsh implications on nations that break the intercontinental economic get, Treasury Secretary Janet Yellen claimed on Tuesday.

“Financial integration has been weaponised by Russia,” she claimed, contacting for all accountable countries to unite in opposition to Russia’s war in Ukraine.

The United States is pushing for improved trade ties with South Korea and other reliable allies to boost the resilience of offer chains, and avert probable manipulation by geopolitical rivals, Yellen explained to Reuters on Monday. examine much more

Yellen said in remarks well prepared for the party she was heartened by discussions with Korean counterparts on a proposed cap on the price tag of Russian oil.

Yellen has reported she will examine the oil price tag cap proposal with prime officials in Seoul.

On Tuesday morning, Yellen was hosted by LG Chem (051910.KS) CEO Hak Cheol Shin in a tour of LG amenities in Seoul.

Yellen, an avid collector of rocks, listened attentively as Shin defined the procedure of setting up electrical motor vehicles, together with the require for lithium.

LG Chem, besides getting the mother or father organization of electrical automobile battery maker LG Energy Remedy (373220.KS), also has battery elements and petrochemical companies.

Yellen is in South Korea on the last leg of her 11-working day take a look at to the Indo-Pacific region. read far more

(The story is refiled to eliminate repeated sentence)

Reporting by Andrea Shalal Producing by Joyce Lee Modifying by Himani Sarkar and Stephen Coates

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