South Korean authorities announced plans to participate in the reduction of the Russian oil price ceiling.
This was announced by Treasury Secretary Cho Kyung-ho during his talks with US Treasury Secretary Janet Yellen in Seoul amid heightened economic uncertainty due to the Russian operation in Ukraine and global monetary tightening.
“We will also discuss our ongoing efforts to hold Russia accountable…” Yellen explained.
She said enhancing economic security and building resilient supply chains would help mitigate “costly” disruptions.
She added that Washington and Seoul intend to discuss global issues, including climate change and the pandemic.
