[Nusa Dua (Indonesia) 14th Reuters]–US Treasury Secretary Janet Yellen met at the G20 Finance Ministers and Central Bank Governors’ Meeting in Bali, Indonesia on the 14th, and Russian President Vladimir Putin Said that his agent had no whereabouts.
Russia will also participate in the conference.
Mr Yellen said the Ukrainian war is having a negative impact on the world. He urged the international community to hold Russia accountable for the war, rising energy prices and rising food insecurity.
He did not explicitly answer the question of whether he would leave when Russian officials said, as he did at the last meeting in April, and stated that he would blame Russia’s invasion of Ukraine “in the strongest words.”
“I think it has made it clear that Russia will not be able to attend these meetings as usual,” he said, saying he is looking forward to the participation of the Ukrainian Treasury Minister.
He said that setting the upper limit price of Russian crude oil would lead to a decrease in energy prices, and said that he would continue to work toward its realization.
He said that if such measures are not taken, oil prices will rise, and he hopes that China and India will participate in the interests of the country.
“By setting a cap, it will leave Russia a way to continue exporting oil, and consumers around the world, including China and India, will be able to avoid price hikes,” he said.
Yellen also blamed China for not participating in the debt restructuring of low-income countries and said it was one of the key objectives to urge G20 creditors, including China, to put together relief measures for high-debt countries. ..
He also said that dealing with “unacceptably high” inflation is one of the Biden administration’s top priorities. He expressed his support for the Federal Reserve’s rate hike.
When asked if the US interest rate hike is having a negative impact on emerging economies, he pointed out that the impact on emerging economies was mainly due to rising fuel and food prices due to the Ukrainian war.
He also acknowledged that the dollar is rising due to the US interest rate hike, which could have some impact on countries with dollar-denominated debt. He also said that some developing countries that export commodities, such as oil, are benefiting from rising prices.