U.S. Deputy Treasury Secretary to Visit U.K. for Discussions on Sanctions Against Russia | WPN World People News

The U.S. Treasury Department announced on Friday, October 11, that Deputy Treasury Secretary Wally Adeyemo will visit London from October 13 to 15. He will meet with senior U.K. officials to discuss imposing further sanctions on Russia and exploring the use of frozen Russian assets.

This marks the first visit by a senior U.S. Treasury official to the U.K. since Prime Minister Keir Starmer took office in July. Although Treasury Secretary Janet Yellen met the new Chancellor of the Exchequer Rachel Reeves during the G20 Finance Ministers' Meeting in July, Adeyemo's visit is the first by a high-ranking U.S. financial official to the new Labour government.

According to Reuters, Adeyemo will hold talks with U.K. National Security Adviser Tim Barrow and Minister of State Stephen Doughty. The U.S. Treasury highlighted the close relationship between the two nations and their cooperation on geopolitical challenges, particularly in supporting Ukraine against Russian aggression. Discussions will also focus on the management of Russia’s frozen assets, estimated at $300 billion, following its invasion of Ukraine.

Additionally, Adeyemo's agenda includes further sanctions against Russia and ways to disrupt financial flows to Iran and its proxies. He also plans to engage with the Labour government on economic measures to promote growth, with an emphasis on strategic investments in sectors like advanced manufacturing and clean energy. The Treasury Department will share insights from the U.S. experience with the Inflation Reduction Act and other legislative initiatives.