The US Treasury Department announced today that US Treasury Secretary Janet Yellen He will visit Japan on July 12-13 where he will meet with Japanese authorities on sanctions once morest Russia in response to Russia’s military invasion of Ukraine.
In addition, Ms Yellen will meet with Japanese Finance Minister Shunichi Suzuki. to discuss issues of rising energy prices, food security and increase supply chain cooperation
Ms Yellen will meet with Japanese authorities on setting a ceiling on Russian oil prices. It is expected that oil prices will be limited in the range of $40-60/barrel. To prevent Russia from using oil revenues to support the war in Ukraine.
However, it was not disclosed whether Ms Yellen and Mr Suzuki will discuss the yen’s depreciation at this time. While the US Federal Reserve (Fed) tends to accelerate interest rates to curb inflation. Contrary to the Bank of Japan (BOJ), which continues to use a special monetary easing policy.
After completing the trip to Japan Ms Yellen will travel to the Indonesian island of Bali to attend the G20 finance ministers meeting on July 15-16.
