Deputy Secretary of the Treasury Wally Adeyemo’s Meetings with Counterparts in Germany

BERLIN – Today and yesterday, Deputy Secretary of the Treasury Wally Adeyemo traveled to Germany to meet with government counterparts and business leaders to discuss joint efforts to respond to Russia’s illegal invasion of Ukraine and combat sanctions evasion and to discuss opportunities to build secure and resilient clean energy supply chains and enhance energy security in the U.S. and Europe.

Yesterday, in Frankfurt, Germany, Deputy Secretary Adeyemo met with executives from leading German financial institutions. The Deputy Secretary shared his views on encouraging economic developments in the U.S., including declining inflation and continued strength in the U.S. labor market. He underscored the U.S. and Germany’s close cooperation in holding Russia accountable for its invasion of Ukraine and the importance of working with the financial sector to counter sanctions evasion, especially efforts to prevent third-party circumvention. The Deputy Secretary also discussed opportunities to invest in shared clean energy supply chains and the ways the Inflation Reduction Act is catalyzing green investment in the U.S. and globally. In addition, the Deputy Secretary met with the leadership of a Vulcan Energy Resources, a clean lithium mining operator in Germany, to discuss critical minerals and securing clean energy supply chains.