US Treasury deputy secretary Wally Adeyemo will travel to Europe and Japan this month, where he will co-ordinate with partners on the use of a new Russia sanctions authority that takes aim at financial institutions, a Treasury spokesperson told Reuters.
Adeyemo will travel to Rome, Berlin, Frankfurt and Tokyo from January 16-23, where he will meet G7 partners as well as key private sector representatives, including financial institutions, academics and other industry leaders, to discuss the executive order, the spokesperson said.
The trip, first reported by Reuters, comes after US President Joe Biden last month signed an executive order threatening penalties for financial institutions that help Russia circumvent sanctions, as Washington seeks to increase pressure on Moscow over its invasion of Ukraine.
“The deputy secretary will co-ordinate with key G7 partners in Italy, Germany, and Japan on using this new tool to crack down on Russian attempts to evade sanctions and obtain critical goods for its military from G7 economies,” the spokesperson, speaking on condition of anonymity, said.
The order also gave Washington the ability to broaden import bans of certain Russian goods, such as seafood and diamonds.
Adeyemo's trip to Europe and Japan comes ahead of the two-year anniversary of Russia's February 2022 invasion, which has killed or wounded tens of thousands and reduced cities to rubble.
US Treasury deputy secretary to discuss use of new Russia sanctions authority in trip to Europe, Japan
US Treasury deputy secretary Wally Adeyemo will travel to Europe and Japan this month, where he will co-ordinate with partners on the use of a new Russia sanctions authority that takes aim at financial institutions, a Treasury spokesperson told Reuters.
Adeyemo will travel to Rome, Berlin, Frankfurt and Tokyo from January 16-23, where he will meet G7 partners as well as key private sector representatives, including financial institutions, academics and other industry leaders, to discuss the executive order, the spokesperson said.
The trip, first reported by Reuters, comes after US President Joe Biden last month signed an executive order threatening penalties for financial institutions that help Russia circumvent sanctions, as Washington seeks to increase pressure on Moscow over its invasion of Ukraine.
“The deputy secretary will co-ordinate with key G7 partners in Italy, Germany, and Japan on using this new tool to crack down on Russian attempts to evade sanctions and obtain critical goods for its military from G7 economies,” the spokesperson, speaking on condition of anonymity, said.
The order also gave Washington the ability to broaden import bans of certain Russian goods, such as seafood and diamonds.
Adeyemo's trip to Europe and Japan comes ahead of the two-year anniversary of Russia's February 2022 invasion, which has killed or wounded tens of thousands and reduced cities to rubble.
Washington and its allies have imposed rafts of sanctions targeting Moscow since its invasion of Ukraine, including sanctions on Russian banks, oligarchs and President Vladimir Putin. The US has continued to ratchet up pressure on Russia and has sought to crack down on Moscow's evasion of the sanctions.
The executive order issued last month clarifies that the US can target financial institutions involved in transactions on behalf of those hit with US sanctions or tied to Russia's military industrial base, including the sale of certain critical items.
Senior administration officials said at the time it was being issued in co-ordination with allies.
The US has repeatedly warned companies against skirting US sanctions imposed on Russia, and has targeted firms in the United Arab Emirates, Turkey and China that it has accused of helping Moscow avoid the measures.
Senior US officials have also travelled to Turkey, the UAE and other countries to warn that businesses could lose access to G7 markets if they do business with entities subject to US curbs.
While in Japan, Adeyemo will also discuss energy security and the G7 price cap on Russian oil, and will discuss the Inflation Reduction Act and collaboration between the US and Europe on bolstering the resilience of critical supply chains while in Italy and Germany, the spokesperson said.
Reuters
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