At the meeting of APEC finance ministers to discuss the ceiling of prices for Russian oil

WASHINGTON, Oct 18 – PRIME U.S. Deputy Treasury Secretary Wally Adeyemo will travel to Bangkok this week to represent Washington at the upcoming Asia-Pacific Economic Cooperation Treasury meeting, the U.S. department said in a statement Tuesday.

“Deputy Minister Adeyemo will take part in formal events and bilateral meetings, including with Treasury Secretary Arkh Termpittayapaisith on the sidelines of the APEC ministerial meeting,” the US Treasury said.

During his trip, Adeyemo is expected to continue to coordinate with Washington’s partners in Asia in a joint effort to respond to “global economic challenges provoked by the COVID-19 pandemic and the illegal war in Ukraine.” In this regard, the Treasury Department noted that the US economy “remains resilient in the face of these challenges, and Deputy Treasury Secretary Adeyemo will continue to work with partners to increase the resilience of the economies of these countries.”

“In addition, he will discuss the historic sanctions and export controls imposed on Russia in response to the unjust war in Ukraine. In meetings with his counterparts from government and business circles, Deputy Minister Adeyemo will explain how the introduction of an oil price ceiling (RF ) will help keep the flow of cheap Russian oil to world markets, while at the same time helping to reduce energy prices, which will primarily benefit developing economies,” the US Treasury said.

On Wednesday, US Treasury Secretary Janet Yellen launched an initiative to set a price ceiling for Russian oil at about $60 per barrel. Russian President Vladimir Putin, commenting on the West’s idea to limit prices for Russian energy resources, stated that Russia would not supply anything abroad if this would be contrary to its own interests.