Wally Adeyemo, the deputy secretary of the US Treasury, will visit the UK and EU to talk about the sanctions on Russia
From November 7–9, 2022, U.S. Deputy Treasury Secretary Wally Adeyemo will visit the U.K. and Europe to talk about sanctions against Russia and to continue organising the implementation of a price ceiling on Russian oil.
Adeyemo’s trip comes ahead of a G20 Summit in Indonesia later this month. It will be the first Treasury trip to the U.K. under the new Prime Minister – Rishi Sunak.
Speaking on the occasion, the Spokesperson for U.S. Treasury said, “With these close allies, he will discuss our redoubled efforts to deny (Russian President Vladimir) Putin the revenue and military equipment he needs to further his illegal war, while maintaining our strong support for the Ukrainian government and people through direct economic assistance.”
He further said, “He will also continue the close coordination on implementing a price cap on Russian oil that will facilitate the flow of oil onto global markets at lower prices and cut into Putin’s main source of revenue.”
The U.S., the G7 and European Union (E.U.) are planning to impose the price cap from December 5, 2022. The exact price levels of the caps, which will be placed on shipments of Russian crude oil and oil products, is still being worked out. Adeyemo will also meet with private sector executives during the trip to discuss sanctions evasion and enforcement.
The West has imposed several rounds of sanctions targeting Russia for invading Ukraine, including targeting the country’s largest lenders and President of Russia – Vladimir Putin. The conflict has killed thousands, displaced millions and left some Ukrainian cities in ruins.
Adeyemo’s trip comes after officials from France, the United Kingdom and the European Commission last month attended a first-of-its kind gathering in the U.S. with officials from 32 countries. The officials discussed additional steps planned to target Russia’s military-industrial complex and the effects of several rafts of sanctions imposed by Washington. Adeyemo at the gathering made clear that the U.S. is prepared to take action against those outside the United States evading its sanctions.
In other developments, Russian attacks have been reported across large areas of Ukraine with heavy shelling in numerous regions damaging infrastructure. Europe’s largest nuclear power plant has again been disconnected from the power grid after Russian shelling damaged the remaining high voltage lines, leaving it with just diesel generators. The Russian Defence Ministry said it has received written guarantees from Ukraine to not to use the Black Sea grain corridor for military operations against Russia.
Russia has told civilians to leave an area along the eastern bank of the Dnieper River in the Ukrainian Province of Kherson, an extension of an evacuation order that Kyiv says amounts to the forced depopulation of occupied territory. The streets of the Russian-held port of Kherson are virtually empty. Many shops and businesses have been closed. Evacuations have picked up as Ukrainian forces advance to the north and east of the strategic city.
