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The Latest Breaking News from Wally Adeyemo

US says price caps on Russia's oil are cutting revenue nearly in half and weakening its economy

When the Group of Seven nations, the European Union and Australia last year announced a plan to cap the price of Russian oil, U.S. officials said it would deliver a most effective blow to Russia’s economy, undermining its greatest revenue source

The Independent UK

Senators to announce coalition reaches $1 billion goal for minority, community lending

Sens. Mark Warner, D-Va., and Mike Crapo, R-Idaho, will join Treasury Deputy Secretary Wally Adeyemo at the Capitol Thursday to announce the funding.

WEKU

Washington inching closer to debt deal

WASHINGTON: Democrats and Republicans inched towards a deal on Friday, ahead of a long weekend, to extend the US debt ceiling and avoid a crippling default that could hit the world's biggest economy within days.

Bangkok Post

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Biden 'optimistic' on debt talks with Republicans as default looms

Rehoboth Beach (United States) (AFP) - President Joe Biden said Sunday he remains "optimistic" about finding an agreement with his Republican opponents to raise the US debt limit and avoid a default, which his administration warned would cause "catastrophic" consequences.

AFP

Biden admin warns of 'catastrophic' default as debt talks continue

Washington (AFP) - President Joe Biden's administration again warned Sunday of "catastrophic" consequences for the US economy if the country defaults, as negotiations with Republicans over a debt deal are expected to resume in the week ahead.

AFP

Host India doesn't want G20 to discuss further Russia sanctions - sources

India does not want the G20 to discuss additional sanctions on Russia for its invasion of Ukraine during New Delhi's one-year presidency of the bloc, six senior Indian officials said on Wednesday, amid debate over how even to describe the conflict.

Reuters

No economic 'knockout' yet from West's sanctions on Russia

One month into the invasion of Ukraine, President Joe Biden declared that sanctions against Russia had rendered the ruble almost immediately “to rubble.”

The Independent UK

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Treasury deputy: Russia sanctions are degrading its military

A top Treasury Department official says Russia’s mounting battlefield losses are a testament to the effectiveness of U.S. and allied sanctions on the Kremlin and its military machine

The Independent UK

Treasury's Adeyemo: U.S., allies plan more Russia sanctions in 'coming days'

The United States and its allies will impose new sanctions and export controls in "coming days" to ratchet up pressure on Russia to end its war in Ukraine and crack down on companies and individuals who are helping Moscow evade sanctions, Deputy Treasury Secretary Wally Adeyemo said on Tuesday.

Reuters

US exempts Syrian earthquake aid from sanctions

The new rules are designed to speed up deliveries.

Al Jazeera

Russian arms dealer, son and front firms hit with sanctions

A Russian arms dealer, his son and a group of front companies across Asia, Europe and the Middle East and their leadership have been targeted for U.S. sanctions in an effort to quell Russia’s access to weapons to continue its invasion of Ukraine

The Independent UK

G7 agrees to review level of price cap on Russian oil in March -US Treasury

Group of Seven officials have agreed to review the level of the price cap on exports of Russian oil in March, U.S. Treasury Deputy Secretary Wally Adeyemo said on Friday.

Reuters

China casts long shadow over US-Africa Leaders Summit

With dozens of African leaders descending on Washington this week, the Biden administration is offering a not so subtle pitch in its economic competition with China on the continent: The U.S. offers a better option to African partners

The Independent UK

U.S. tells Turkey no need for additional checks on oil tankers

U.S. Deputy Treasury Secretary Wally Adeyemo told Turkish Deputy Foreign Minister Sedat Onal in a call on Wednesday that the price cap on Russian oil does not necessitate additional checks on ships passing through Turkish territorial waters, the U.S. Treasury Department said.

Reuters

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Reuters

Analysis-G7 Russian oil price cap evolves from revenue squeeze to market anchor

When U.S. officials first floated the idea of capping Russian oil export prices in response to a planned European embargo in March, they pledged to squeeze revenues to Russia's war machine, while avoiding a devastating oil price spike.

France 24

Sanctions on Russia 'are working', US deputy treasury secretary says

In an interview with FRANCE 24, US Deputy Treasury Secretary Wally Adeyemo discussed the sanctions imposed on Moscow in the wake of Russia's invasion of Ukraine. "The sanctions are working and that's why Russia is working so hard to evade them," he said. Adeyemo also discussed the cap on the…

Bangkok Post

US Treasury's Adeyemo heads to Apec meeting with focus on trade, 'resilience'

WASHINGTON: United States Deputy Treasury Secretary Wally Adeyemo will travel to Asia this week for a two-day meeting with finance ministers from the Asia-Pacific region and bilateral meetings in Thailand and Singapore, the US Treasury Department said on Tuesday.

Reuters

U.S. to send munitions, military vehicles to Ukraine in latest aid package

The United States will send munitions and military vehicles to Ukraine as part of a new $725 million security assistance package aimed at bolstering the country's defense against the Russian invasion, the Defense Department said on Friday.

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Asharq Al-Awsat

Washington Takes Measures to Ease Iranians Access to Internet

The United States Treasury Department issued guidance expanding the range of internet services available to Iranians despite US sanctions on the country. The US took action to support the free flow of information and access to fact-based information to the Iranian people after the Iranian government cut off access to…

Al Jazeera

US relaxes internet sanctions on Iran in support of protesters

US Treasury expands Iran sanction exemptions to social media platforms, video conferencing and cloud services.

Reuters

U.S. adjusts sanctions to help Iranians evade online surveillance, censorship

The U.S. Treasury Department on Friday issued guidance expanding the range of internet services available to Iranians despite U.S. sanctions on the country, amid protests around Iran following the death of a 22-year-old woman in custody.

Reuters

Other nations weighing G7 Russia oil price cap, U.S.'s Adeyemo says

A number of oil-importing countries are considering joining the G7's plan to cap the price of Russian oil, Deputy U.S. Treasury Secretary Wally Adeyemo said on Thursday, adding that the group would issue related rules in the next few days.

Asharq Al-Awsat

Türkiye Downplays US Sanctions Threat over Russia Ties

Türkiye’s Treasury and Finance Minister Nureddin Nebati told businesses on Friday they should not be concerned by the threat of sanctions that Washington warns will follow if they do business with sanctioned Russians. Nebati’s Twitter comments represent Ankara’s first official response to a letter the US Treasury sent to Turkish…

Asharq Al-Awsat

US Warns of Sanctions Against Türkiye over Russia Ties

Türkiye's top business association has confirmed receiving a letter from the US Treasury warning of possible sanctions if it continues doing business with Russia. Washington is growing increasingly alarmed that the Russian government and businesses are using Türkiye to evade Western financial and trading restrictions imposed in response to the…

AFP

US warns of sanctions against Turkey over Russia ties

Istanbul (AFP) - Turkey's business community confronted growing US pressure on Wednesday to break off its growing ties with Russia or face potentially crippling sanctions linked to the Kremlin's invasion of Ukraine.

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