us treasury india go to: Senior US treasury official to go to India, to deal with robust bilateral financial relationship, power safety

Deputy Secretary of the Treasury Wally Adeyemo will journey to Mumbai from August 24-25 and New Delhi on August 26 for conferences and occasions, the treasury stated in an announcement on Friday.

Throughout his journey, Adeyemo will reaffirm and strengthen the US-India relationship and America’s shared dedication to a safe and affluent Indo-Pacific, together with by underscoring the 2 international locations’ deep financial, safety, and cultural ties, the assertion stated.

In India, Adeyemo will deal with the robust US-India bilateral financial relationship, spotlight the in depth funding and commerce flows between the 2 international locations, and focus on methods to deepen them, together with by constructing extra resilient provide chains with trusted companions like India, in addition to by initiatives just like the Indo-Pacific Financial Framework that India joined as a founding member in Might, it stated.

In conferences with counterparts, Adeyemo can even focus on key shared priorities corresponding to bolstering power safety, addressing meals insecurity globally, and combating illicit monetary flows, stated the treasury as India is about to guide the G20 grouping in 2023.

The US and European nations have imposed heavy sanctions on Russia since Moscow despatched troops into Ukraine on February 24.

India has raised oil imports from Russia after the Ukraine conflict regardless of criticism from the West and continues to interact with Moscow for enterprise.

In Might, Russia overtook Saudi Arabia to turn out to be India’s second-biggest provider of oil behind Iraq as refiners snapped up Russian crude out there at a deep low cost following the conflict in Ukraine.

Indian refiners purchased about 25 million barrels of Russian oil in Might.

Exterior Affairs Minister S Jaishankar this week defended India’s import of discounted Russian oil, saying the federal government had the ethical obligation to make sure that the folks of India bought the very best deal amidst unreasonably excessive oil costs.

In Mumbai on August 24 and 25, Deputy Secretary Adeyemo will meet with senior authorities counterparts in addition to executives from main Indian companies – together with from the monetary companies and power sectors.

Adeyemo can even tour IIT Mumbai’s Society for Innovation and Entrepreneurship start-up incubator, the place he’ll meet with college students and entrepreneurs and ship transient remarks on strengthening financial ties between the US and India, stated the division of treasury.

In New Delhi on August 26, Deputy Secretary Adeyemo will meet senior authorities counterparts, the assertion stated.

Following conferences in New Delhi, Adeyemo will return to the US.