U.S. Treasury Secretary Janet Yellen speaks during a press conference, ahead of the meeting of G20 finance ministers and central bank governors, in Nusa Dua, Bali, Indonesia, on July 14, 2022. Made Nagi / Pool via REUTERS
Register now for FREE and unlimited access to Reuters.com
Sign up
Seoul, July 19 (Reuters) – The United States will impose severe consequences on countries that break the international economic order, Treasury Secretary Janet Yellen said on Tuesday.
“Economic integration has been armed by Russia,” he said, calling on all responsible countries to unite in opposition to Russia’s war in Ukraine.
The United States is pushing to increase trade ties with South Korea and other trusted allies to improve supply chain resilience and prevent possible manipulation by geopolitical rivals, Yellen told Reuters Monday. Read more
Register now for FREE and unlimited access to Reuters.com
Sign up
Yellen said in comments prepared for the event that he was encouraged by talks with his Korean counterparts about a proposed cap on the price of Russian oil.
Yellen has said he will discuss the proposed oil price cap with senior Seoul officials.
On Tuesday morning, Yellen was greeted by LG Chem CEO 051910.KS Hak Cheol Shin on a tour of LG’s facilities in Seoul.
Yellen, an avid rock collector, listened intently as Shin explained the process of building electric vehicles, including the need for lithium.
LG Chem, in addition to being the parent company of electric vehicle battery manufacturer LG Energy Solution (373220.KS), also has battery and petrochemical materials business.
Yellen is in South Korea on the final stretch of his 11-day visit to the Indo-Pacific region. Read more
(The story is completed again to remove the repeated sentence)
Register now for FREE and unlimited access to Reuters.com
Sign up
Report by Andrea Shalal; Written by Joyce Lee; Editing by Himani Sarkar and Stephen Coates
Our standards: the principles of trust of Thomson Reuters.