US Treasury Secretary Janet Yellen said on Thursday that “the biggest challenge” to the world economy came from the war in Ukraine, ahead of a G20 ministerial meeting in Indonesia.
“Our greatest challenge comes from the war launched by Russia” in Ukraine and “the international community must have a clear vision of the economic and humanitarian consequences” of this war, he declared during a press conference on the Indonesian island of Bali.
“We are seeing the consequences of this war in every corner of the world, especially in energy prices and increased food insecurity.”
The war has shaken global markets, increased inflation and aggravated a food and energy crisis that threatens to destabilize the most vulnerable countries.
Joe Biden’s minister is in Bali, Indonesia, to participate in the meeting of finance ministers and central bank governors on July 15-16.
He said he wanted to continue to pressure his G20 counterparts, particularly China and India, to put a cap on Russian oil prices, in order to deprive Moscow of the funds needed to continue the war in Ukraine.
Source: BFM TV
