U.S. Deputy Treasury Secretary Wally Adeyemo is set to visit London from October 13-15 to engage in high-level discussions with senior British officials on tightening sanctions against Russia and exploring the use of frozen Russian assets, the U.S. Treasury Department announced on Friday.
During his trip, Adeyemo will meet with key figures, including UK National Security Advisor Tim Barrow, Bank of England Governor Andrew Bailey, and Minister of State Stephen Doughty.
The meetings will focus on U.S.-UK coordination in responding to geopolitical challenges, with an emphasis on supporting Ukraine amid its ongoing conflict with Russia.
A central topic of discussion will be leveraging the economic potential of approximately $300 billion in Russian sovereign assets that were frozen by Western nations following Russia’s 2022 invasion of Ukraine.
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Adeyemo will also address strategies to cut off financial flows enabling activities by Iran and its proxies.
Beyond geopolitical concerns, Adeyemo plans to discuss joint U.S.-UK efforts to drive economic growth through strategic investments in advanced manufacturing and clean energy sectors.
He will highlight the Biden administration’s approach to stimulating private sector investment, sharing insights from the implementation of key initiatives like the Inflation Reduction Act.
This visit marks the first by a senior U.S. Treasury official to the UK since Prime Minister Keir Starmer’s Labour government took office in July, following Treasury Secretary Janet Yellen’s meeting with Chancellor of the Exchequer Rachel Reeves at a G20 summit earlier this year.
