Yellen visits India to shore up US-Indo-Pacific partnerships
Supply chains, Russia’s war in Ukraine and the impact of COVID-19 are top of mind for U.S. Treasury Secretary Janet Yellen as she prepared to meet with Indian leaders in New Delhi
NEW DELHI (AP) — Supply chains, Russia's war in Ukraine and the impact of COVID-19 were top of mind for U.S. Treasury Secretary Janet Yellen as she prepared to meet with Indian leaders Friday in New Delhi.
Citing Russia’s leveraging of energy supplies, Yellen said President Vladimir Putin’s strategy was “an example of how malicious actors can use their market positions to try to gain geopolitical leverage or disrupt trade for their own gain.”
She said Russia had previously been a long-time, reliable energy partner. “But for the better part of this year, Putin has weaponized Russia’s natural gas supply against the people of Europe," she said.
Cooperation among friendly countries will help diversify supply chains away from China, which currently dominates over 80% of global solar panel production, Yellen said.
