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Supply chains, Russia’s war in Ukraine and the impact of COVID-19 were top of mind for U.S. Treasury Secretary Janet Yellen as she prepared to meet with Indian leaders Friday in New Delhi.
For too long, countries around the world have been overly dependent on risky countries or a single source for critical inputs, she told the technology sector leaders during a visit to the Microsoft India Development Center on the outskirts of New Delhi.
Citing Russia’s leveraging of energy supplies, Yellen said President Vladimir Putin’s strategy was “an example of how malicious actors can use their market positions to try to gain geopolitical leverage or disrupt trade for their own gain.”
She said Russia had previously been a long-time, reliable energy partner. “But for the better part of this year, Putin has weaponized Russia’s natural gas supply against the people of Europe,“ she said.
