PM Modi Was Right...: US Top Official Says Millions To Suffer Extreme Poverty Due To Russia-Ukraine War

The US Secretary of Treasury hit out at Russia saying that Moscow is an example of how malicious actors can use their positions to try to gain geopolitical leverage.

New Delhi: US Secretary of Treasury Janet Yellen on Friday said that Prime Minister Narendra Modi was right in saying that this is not an era of war, emphasising that millions of people face extreme poverty and hunger since Russia's war in Ukraine.

"Millions of people face extreme poverty and hunger since Russia's war in Ukraine. PM Modi was correct when he said, this isn't an era of war... Difficult times test us, but I believe challenges are bringing India and the US closer together than ever before," Yellen said, as quoted by news agency ANI.

The top US official is in India to participate in the US-India Economic and Financial Partnership. She met business leaders at Microsoft India Development Centre in Noida and said, "I'm here to meet my counterpart Finance Minister Sitharaman. India-US economic ties are getting stronger and deeper with time. With concerns on supply chain, we should work together."

Addressing the event in Noida, Yellen said, "This is my first visit to India as Treasury Secretary, I'm delighted to be here as India celebrates its 75th year of independence and prepares to assume the G20 presidency. As President Biden said, India is one of America's indispensable partners."

"It's no surprise that India is among the fastest-growing major economies in the world. We're dealing with the lingering effects of the pandemic, spill-overs from Putin's barbaric war in Ukraine and macroeconomic tightening," she added, as quoted by ANI.

The US Secretary of Treasury said that America welcomes India's ambition to become a powerhouse, in areas of green hydrogen and other renewable technologies. "US and India share an interest in strengthening our supply chains, in a world where certain governments wield trade as a geopolitical weapon," she remarked.

Moscow An Example Of How Malicious Actors Can Use Their Positions To Try To Gain Geopolitical Leverage: 

Yellen directly hit out at Russia saying that Moscow long presented itself as a reliable partner (for energy exports), but "It is an example of how malicious actors can use their positions to try to gain geopolitical leverage to disrupt trade for their own gains."

"Democracies can deliver for people. The trajectories of the global economy will be shaped by the work that India and the US undertake together; the same is true for the prosperity and security of the Indo-Pacific. The US-India relationship continues to grow," Yellen emphasised.

She further mentioned that bilateral trade between the US and India reached an all-time high last year and America expects it to grow further. "Our people and companies depend on each other on daily basis. Indians frequently use WhatsApp to communicate, many American companies rely on Infosys to operate," the US Secretary added.

"The US is ready to work with India to close global digital gap. Economic integration requires a modern international payment system. Cross-border payments should be cheaper, faster, more transparent &easier to access. We look forward to working with India to deliver tangible outcomes," Yellen stated.

(With Agency Inputs)