Yellen condemns Russia in meetings with officials at G-20 talks

US Treasury Secretary Janet Yellen encouraged countries to back a price cap on Russian oil. PHOTO: AFP

NUSA DUA, INDONESIA (REUTERS) - United States Treasury Secretary Janet Yellen met bilaterally with senior officials from Saudi Arabia, Australia, South Africa and Singapore on the sidelines of the Group of 20 (G-20) finance meetings in Indonesia, the Treasury Department said on Saturday (July 16).

During the meetings, Ms Yellen condemned Russia's "unprovoked war against Ukraine, which has caused global spillovers in food, energy, and other commodities," and encouraged countries to back a price cap on Russian oil in order to restrict the flow of revenue to its military, the Treasury said.

She also underscored the importance of taking action at the G-20 to address the global food security crisis, it added.

Ms Yellen met with Saudi Arabia's Minister of Finance Mohammed Al-Jadaan, Treasurer of Australia Jim Chalmers, South Africa's Minister of Finance Enoch Godongwana, and Singapore's Deputy Prime Minister Lawrence Wong.

She also met for dinner with Canadian Finance Minister Chrystia Freeland.

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