US Treasury Secretary Janet Yellen will meet with Japanese Finance Minister Suzuki Shunichi in Tokyo on Tuesday. Sanctions against Russia will likely be one of the topics at the meeting.

This will be Yellen's first visit to Japan since assuming the post last year. She will later head to Indonesia to attend a summit of G20 finance ministers and central bank governors due to kick off on Friday.

Yellen and Suzuki will likely discuss how to ramp up sanctions against Russia amid its prolonged invasion of Ukraine.

Japanese Prime Minister Kishida Fumio and US President Joe Biden agreed at a meeting last month in Germany that their countries will work together with other G7 nations to impose a price cap on Russian oil.
The price cap and other sanction measures will likely be among the topics discussed during Yellen's meeting with Suzuki.

Their meeting comes as the Japanese currency is rapidly losing its value against the dollar. During the meeting, the Japanese delegates want to confirm with US officials that the countries will maintain close communication on exchange rates.