Yellen says US will impose consequences on countries abusing economic order

US Treasury Secretary Janet Yellen speaks at the LG Science Park in Seoul July 19, 2022. — Reuters pic

US Treasury Secretary Janet Yellen speaks at the LG Science Park in Seoul July 19, 2022. — Reuters pic

Tuesday, 19 Jul 2022 11:14 AM MYT

SEOUL, July 19 — US Treasury Secretary Janet Yellen said today that the United States will impose harsh consequences on countries that break the international economic order.

“Economic integration has been weaponised by Russia,” she said, calling for all responsible countries to unite in opposition to Russia’s war in Ukraine.

Yellen said in remarks prepared for the event she was heartened by conversations with Korean counterparts on a proposed cap on the price of Russian oil.

Yellen has said she will discuss the oil price cap proposal with top officials in Seoul.

She is in South Korea on the final leg of her 11-day visit to the Indo-Pacific region. — Reuters