WASHINGTON – From February 5-6, Deputy Secretary of the Treasury Wally Adeyemo traveled to Paris, France to meet with senior French government counterparts and continue our close coordination with France on holding Russia accountable for its war against Ukraine. In engagements with senior officials at the Elysée, the Prime Minister’s Office, the Ministry of Finance, Ministry of Foreign Affairs, and the Banque de France, Deputy Secretary Adeyemo reiterated the importance of maintaining pressure on Russia’s ability to fund its illegal war and equip its military – including through the G7+ price cap on Russian energy exports. In Paris, Deputy Secretary Adeyemo also highlighted Treasury’s expanded sanctions authorities, which target foreign financial institutions that facilitate significant transactions for Russia’s military procurement and production of battlefield goods.
Lastly, Deputy Secretary Adeyemo noted the importance of sustaining the financial support for Ukraine that enable its brave resistance to Russia, and thanked French counterparts for their role in helping to secure €50 billion in economic assistance for Ukraine through the European Union’s Ukraine Facility. Deputy Secretary Adeyemo stressed the Biden Administration’s commitment to delivering direct budget support to Ukraine through its national security supplemental funding request before Congress, and discussed with French counterparts the importance of maintaining financial support for Ukraine over the medium- to long-term.