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Britain: Ministry of Finance visits the US to discuss issues related to energy security

Britain: Ministry of Finance visits the US to discuss issues related to energy security

British Finance Minister Nadeem Zahawi is visiting New York and Washington this week to discuss global economic challenges and cooperation in areas including energy security and financial services, his office announced yesterday.

Britain and Europe are facing a sharp rise in energy bills due to soaring gas prices as the war in Ukraine and sanctions against Russia heighten concerns about the security of gas supplies.

Zahawi has stated that he is working on the options available to support both households and businesses struggling to contain their daily expenses. Those options will be ready by the time Boris Johnson’s successor as prime minister is announced on September 5, with the possibility of a coalition government and the appointment of a new finance minister remaining open.

Zahawi’s office announced that it will use its visit to the US to emphasize the need for continued bilateral cooperation to address issues that are driving up prices and slowing growth in the economies of states worldwide.

“These global pressures will have to be met with global efforts. I am determined, here in the US, to work closely with our allies on the shared challenges we face, to build a fairer and more resilient economy, both at home in Britain and and abroad,” Zahawi said in a statement.

Zahawi’s office announced that his visit includes meetings with international financial institutions, with the Federal Bank of the United States (Fed), but also the US Department of the Treasury, to discuss support for Ukraine and weak countries, the state of the global economy, but also energy security.

Britain’s aspirations include a desire for increased cooperation in non-combat nuclear energy, closer cooperation between the nuclear industries in Britain and the US in developing technologies, according to Zahawi’s office.

At the same time, the British minister will hold talks on expanding sanctions against Russia, reacting to its invasion of Ukraine.


Source: Capital