© Bloomberg. Janet Yellen, U.S. Treasury secretary, speaks during a House Financial Services Committee hearing in Washington, D.C., U.S., on Wednesday, April 6, 2022. Yellen will warn that the war in Ukraine threatens to inflict
(Bloomberg) — Treasury Secretary Janet Yellen said U.S. officials wouldn’t take part in Group of Twenty meetings this year in which Russia is allowed to participate.
“I’ve made clear to my colleagues in Indonesia that we will not be participating in a number of meetings if the Russians are there,” Yellen told lawmakers Wednesday as she testified before the House Financial Services Committee.
Indonesia is hosting meetings this year of the G-20, which groups the largest developed and emerging markets.
The Treasury chief said that Washington has made clear that it cannot be “business as usual” for Russia in any of the international financial institutions it’s a member of — given its invasion of Ukraine.
Yellen was asked whether the Biden administration would push for the removal of Russia from the G-20, along with other fora including the Financial Action Task Force and the Financial Services Board.
©2022 Bloomberg L.P.
Yellen Says U.S. to Skip Portions of G-20 If Russia Takes Part