Japanese Finance Minister Shunichi Suzuki said on Tuesday that Japan and the United States had pledged to work together to make Russia “pay a heavy price” for its invasion of Ukraine.
In remarks he made shortly after his online conversations with US Treasury Secretary Janet Yellen, Suzuki made it clear that the two sides agreed to continue coordinating with each other in action against Russia, which invaded neighboring Ukraine on February 24, reports Al-Rai quoting Reuters.
He added that the Russian Central Bank’s hike in interest rates reflects the impact of the sanctions imposed on Russia.
In turn, the US Treasury said in a statement after Yellen’s call with Suzuki that the minister pledged to work closely with Japan and other G7 countries to isolate Russia from the global financial system and “impose maximum costs” on Moscow.
The Group of Seven finance ministers are scheduled to meet remotely today to discuss financial sanctions against Russia.
“Secretary Yellen highlighted the strength of the unprecedented and coordinated actions of the United States and its partners and allies, including Japan, and welcomed Japan’s recent action against the Russian Central Bank and its intent to take action against Belarus,” the Treasury said in a statement.