White House Holds US Finance and Energy Meeting to Assess Impact of Sanctions on Russia

President Joe Biden of the United States [Photo by AP]

[Asia Economy Reporter Jeong Hyunjin] The Biden administration in the United States will hold meetings with banks and energy companies on the 21st (local time) to assess the impact of Russia's airstrikes on Ukraine and the sanctions imposed on Russia.

According to Bloomberg News, Treasury Secretary Janet Yellen and Jake Sullivan, National Security Advisor at the White House National Security Council (NSC), plan to hold a private meeting gathering key industry representatives on the same day.

The industries involved include energy refining, financial services, and manufacturing. Bloomberg cited sources saying representatives from ExxonMobil, ConocoPhillips, Marathon Petroleum, JP Morgan, and Bank of America (BoA) will attend.

This meeting comes after the U.S. imposed large-scale sanctions on Russia following its airstrikes on Ukraine. After oil prices surged recently, the White House has requested energy suppliers to increase production, and President Biden criticized suppliers last week for maintaining high supply prices despite oil prices peaking and slightly declining in the market.

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