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Japan, U.S. finance chiefs pledge ‘maximum costs’ for Russia -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO: Shunichi Suzuki, Japan’s Finance Minister, is wearing a mask to protect himself from the COVID-19 outbreak. He speaks during a Tokyo news conference on October 5, 2021. REUTERS/Kim Kyung-Hoon

TOKYO (Reuters), – Japan, America and Russia pledged to cooperate on Tuesday in order to get Russia to pay the “high price” for their invasion of Ukraine. Shunichi Suzuki from Finance said this Tuesday.

Suzuki stated that they had met online shortly after Janet Yellen was appointed U.S. Treasury secretary. He said the two sides were willing to cooperate in fighting Russia.

He added that the Russian central bank raising interest rates indicated that sanctions are having an effect.

According to a U.S. Treasury statement, Yellen promised to cooperate closely with Japan (and other G7 wealth democracies) to remove Russia from global financial systems and to “impose maximum penalties” upon Moscow.

G7 finance ministers meet virtually on Tuesday for discussions about financial sanctions against Russia.

“Secretary Yellen highlighted the force of the unprecedented and coordinated measures from the U.S. and its partners and allies, including Japan, and welcomed Japan’s recent action towards the Central Bank of Russia and intention to take action against Belarus,” the Treasury said in a statement.

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