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Yellen said at the G20 about "actions" to solve the global food crisis

Yellen claims G20 Reuters Yellen claims G20 Julius Conley ★★★★★

Among other proposed mechanisms, Washington's envoy stubbornly insisted on the need to agree on a mechanism for imposing restrictions on the price of Russian oil.

This measure, proposed by Yellen earlier, is aimed at "limiting the income from the military machine" of Russian President Vladimir Putin and "limiting the impact of Russia's war on energy prices" around the world.

The US representative held bilateral meetings with colleagues from Australia, Saudi Arabia, Singapore, Turkey and South Africa on the sidelines of the G20 meeting of finance ministers and central bank governors that ended today, the US Treasury Department said in a statement.

During the talks with her peers, Yellen "condemned Russia's unprovoked war against Ukraine, which caused global consequences for (the supply chain) of food, energy and other goods," the letter says.

Yellen has been advocating for a price cap on Russian oil for months and is one of her main targets on her trip to Asia, where she visited Tokyo this week before heading to Bali.

The European Union (EU) in June adopted the sixth package of sanctions against Russia for the invasion of Ukraine, which includes an embargo on Russian oil coming by sea, and provides exceptions for oil coming by pipeline to landlocked countries such as Hungary, the Czech Republic or Slovakia.

Russia has redirected a significant portion of its crude oil and petroleum products exports to countries in the Asia-Pacific region after the invasion of Ukraine and sanctions from the West, and, according to Moscow, has the ability to meet the growing demand there.

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