Deputy Secretary of the Treasury, Wally Adeyemo, is embarking on a week-long trip to Europe from July 9th to July 15th. The purpose of his visit is to engage in discussions regarding shared economic opportunities stemming from the Inflation Reduction Act, secure clean energy supply chains, and coordinate efforts to counter sanctions evasion. Deputy Secretary Adeyemo’s itinerary includes stops in Belgium, Brussels; Frankfurt and Berlin, Germany; and Rome, Italy.
In Brussels, Deputy Secretary Adeyemo will meet with officials at the European Commission to address the importance of developing reliable clean energy supply chains to support green economic transitions. They will also focus on countering Russia’s attempts to evade the sanctions and export controls imposed by a coalition of over 35 countries in response to its aggressive actions against Ukraine. In recent months, U.S. and E.U. officials have collaborated to offer technical assistance and clarify the risks associated with transshipment points for dual-use goods flowing to Russia. Additionally, the Deputy Secretary will meet with private sector representatives in Belgium to discuss fortifying the critical mineral supply chain.
Moving on to Frankfurt, Deputy Secretary Adeyemo will convene a banking roundtable to gain insights into the macroeconomic outlook and financial conditions in Europe. This discussion will help inform future policy decisions. Furthermore, he will engage with critical minerals industry participants to emphasize the significance of resilient supply chains, ensuring a steady flow of essential resources.
In Berlin, Deputy Secretary Adeyemo will meet with government counterparts to address various issues of mutual concern. These include curbing the transshipment of Western-made dual-use components to Russia, encouraging European investments in clean energy deployment, and combating climate change. The discussions in Berlin will contribute to strengthening the partnership between the United States and Germany in tackling global challenges.
Lastly, in Rome, Deputy Secretary Adeyemo will engage with government officials to discuss clean energy initiatives, Russia sanctions, the upcoming G7 agenda, and strategies for strengthening the global economy. This meeting will provide an opportunity for both parties to exchange ideas and coordinate efforts on critical economic and geopolitical matters.
Deputy Secretary Adeyemo’s visit to Europe underscores the United States’ commitment to fostering international cooperation on economic and energy-related issues. By engaging with European partners, the U.S. aims to build resilient supply chains, counter sanctions evasion, and promote clean energy transitions. These discussions are crucial for addressing global challenges and working towards a more sustainable and prosperous future.
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Original Story at home.treasury.gov – 2023-07-07 21:53:17
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