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Yellen tells Indonesia: 'No business-as-usual' for Russia
Yellen told Finance Minister Sri Mulyani Indrawati during a meeting on Tuesday that the United States will continue to work with Indonesia, which currently leads the Group of 20 major economies, to advance G20 business.
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US Treasury Secretary Janet Yellen addresses an Atlantic Council Front Page event on April 13, 2022 in Washington, DC. Ahead of next week's World Bank and IMF annual meetings in Washington, Yellen discussed the global economy in the wake of Russia's invasion of Ukraine and the need for greater cooperation (AFP/ in the future. Chip Somodevilla/Getty Images)
US Treasury Secretary Janet Yellen told her Indonesian counterpart that there will be no "business-as-usual" for Russia in the global economy given its invasion of Ukraine, the Treasury Department said in a statement on Wednesday.
Yellen told Finance Minister Sri Mulyani Indrawati during a meeting on Tuesday that the United States will continue to work with Indonesia, which currently leads the Group of 20 major economies, to advance G20 business.
"Secretary Yellen firmly condemned Russia’s brutal invasion of Ukraine, and emphasized there will be no business-as-usual for Russia in the global economy," Treasury said. "Secretary Yellen emphasized that the United States will continue to work in solidarity with Indonesia to advance the important business of the G20, including addressing the negative impacts of Russia’s invasion on the global economy."
Yellen and European Central Bank President Christine Lagarde have also expressed their displeasure at the in-person participation of a top Russian official in Wednesday's meeting of G20 finance officials, a source told Reuters.
Yellen said she disapproved of Russia's presence at the meeting, while Lagarde urged the official, Deputy Finance Minister Timur Maksimov, to convey to Russian leaders a clear message - to end the war in Ukraine, said the source, who was familiar with the meeting.
A second source confirmed physical participation by Maksimov. The United States has called for Russia to be excluded from the Group of 20 major economies.
