Despite Russian threats of retaliation, this move could provide another key financial stream for Kyiv
EU's fund for Ukraine running low, considering using profits from raiding Russian assets to buy weapons
G7 finance chiefs have endorsed the plan, but no firm details will emerge from Stresa talks
G7 nations coalesce around plan to use frozen Russian assets for $50B Ukraine loan
US Treasury Secretary Janet Yellen sees no major obstacles in discussions with G7 finance ministers about larger loan to Ukraine backed by frozen Russian sovereign assets
A $50B deal for Ukraine is in sight as G7 nations coalesce around a plan to use frozen Russian assets to secure a loan for Kyiv.
The EU's fund for Ukraine is running low, and Brussels has been thinking of alternative ways to provide long-term support. On May 15, the EU agreed on using profits from raiding Russian assets to buy weapons for Ukraine. However, not all details have been worked out yet.
U.S. Treasury Secretary Janet Yellen does not see any major obstacles in discussions with G7 finance ministers about a larger loan to Ukraine backed by the income of frozen Russian sovereign assets. The United States and its Western allies are taking steps to use these assets to fund Ukraine's war effort.
G7 finance chiefs have endorsed the plan, but no firm details will emerge from the Stresa talks. G7 leaders are due to meet next month in Puglia, southern Italy.
Despite Russian threats of retaliation by confiscating U.S. and European assets in Russia, this move could provide another key financial stream for Kyiv.
U.S. Treasury Secretary Janet Yellen does not see any major obstacles in discussions with G7 finance ministers about a larger loan to Ukraine backed by the income of frozen Russian sovereign assets.
G7 finance chiefs support using frozen Russian assets to fund Ukraine.
The United States and its Western allies are taking steps to use frozen Russian assets to fund Ukraine's war effort.
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]U.S. Treasury Secretary Janet Yellen said on Friday that she does not see "any showstoppers" in her discussions with fellow G7 finance ministers about a larger loan to Ukraine backed by the income of frozen Russian sovereign assets.
]I've not seen anything I regard as a show stopper, but there are some issues that we need to be sorted out and people will have to be flexible to reach common ground," Yellen said.
]Yellen also told Reuters that there are a "range of views" among G7 finance ministers on the level of concern about China's industrial overcapacity, which she argues threatens the viability of firms in market-driven economies.
]I think there is a general view that we should express a common set of concerns to China," she said. "It's that China's overall macroeconomic strategy is worrisome and has negative spillovers."[
