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Treasury Chief Janet Yellen Heads to India as U.S. Seeks to Deepen Ties
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Treasury Secretary Janet Yellen’s trip to India this week will be the latest attempt by the Biden administration to look past the emerging power’s longstanding ties to Russia and deepen a relationship that it hopes will serve as a counterweight to China.
The U.S. has shifted its approach to India since the invasion of Ukraine began, at first calling out its ties to Russia and warning the country against massively increasing its purchases of cheap Russian oil. Now, the Biden administration is encouraging India to purchase Russian oil under a price determined by the U.S. and its allies, while more broadly tolerating the country’s relationship with Russia, analysts and administration officials say.
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