Yellen cancels Yokohama port visit after shooting of Japan’s Abe

US TREASURY secretary Janet Yellen canceled a visit to the port of Yokohama out of respect for Japan’s mourning following the assassination of former prime minister Shinzo Abe.

That includes a planned speech at the port by Yellen, who is beginning an Asian trip in Japan on Sunday (Jul 10), according to Treasury spokeswoman Elizabeth Bourgeois.

A meeting with Japanese finance minister Shunichi Suzuki remains on the schedule for Tuesday.

Yellen’s first trip to Asia since taking office includes stops in Tokyo and Seoul. In between, she will attend a Group of 20 finance ministers gathering in Bali, Indonesia, on July 15 and 16.

A central topic of her talks is to help build momentum for a complex effort to cap prices for Russian oil.

The discussions, which were backed by leaders of the smaller Group of 7 advanced economies in June, are about limiting the revenue Russia earns from oil exports without driving its oil off the global market and pushing up prices again.

SEE ALSO

As Biden weighs China tariff options, any move unlikely to ease inflation in a big way

US, China discuss ‘severe’ economic challenges, supply chains

Yellen to visit South Korea, discuss sanctions on North: sources

Not all recessions alike, inflation can come down amid full employment: Yellen

More

Critics have called it too complex to work.

Abe, Japan’s longest-serving premier, a figure of enduring influence and an anchor of US-Japanese ties, died after being shot at a campaign event Friday. He was 67.

President Joe Biden left a handwritten note in the Japanese embassy’s condolence book and praised Abe’s “vision of a free and open Indo-Pacific” during a call with Prime Minister Fumio Kishida. BLOOMBERG