U.S. Treasury Department announces Deputy Chancellor of the Exchequer will visit London
Date
10/13/2024 4:54:29 AM
(MENAFN) The U.S. Treasury Department announced on Friday that Wally Adeyemo, the Deputy Chancellor of the Exchequer, will visit London from October 13 to 15. This visit aims to facilitate discussions with senior British officials regarding the implementation of additional sanctions on Russia, as well as strategies for utilizing frozen Russian assets.
During his trip, Adeyemo will hold meetings with several prominent figures, including UK National Security Adviser Tim Barrow, bank of England Governor Andrew Bailey, and Secretary of State Stephen Doughty. According to reports from Reuters, these discussions will center on fortifying the close relationship between the United States and the United Kingdom, especially in the context of geopolitical challenges, such as the continued support for Ukraine in its conflict with Russia.
A key focus of Adeyemo’s discussions will be on how to handle roughly $300 billion in Russian sovereign assets that have been frozen by Western nations in response to Russia's invasion of Ukraine. The Treasury has indicated that Adeyemo intends to reinforce existing sanctions against Russia while also investigating ways to impede financial channels that facilitate Iran and its proxies' activities.
This upcoming visit is significant as it represents the first time a high-ranking U.S. Treasury official has traveled to the UK since Keir Starmer, leader of the Labour Party, assumed power in July. It is important to note, however, that U.S. Treasury Secretary Janet Yellen did engage with her British counterpart, Rachel Reeves, during a Group of Twenty finance meeting in Brazil earlier this year.
Through these meetings, the U.S. seeks to strengthen its cooperation with the UK on pressing global issues and to maintain a united stance against hostile actions in the international arena.
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