Reported 5 months ago
At a meeting of finance officials from the Group of Seven rich democracies in Stresa, Italy, discussions are centered around how to utilize the frozen Russian central bank reserves to support Ukraine's war effort. While Ukraine and its allies are pushing for the confiscation of $260 billion in Russian assets, European officials are hesitant due to legal and financial stability concerns. Suggestions include converting the interest from these assets into upfront cash to provide immediate support to Ukraine, with U.S. Treasury Secretary Janet Yellen mentioning a potential $50 billion. The aim is to secure Ukraine's financial position amidst the ongoing conflict, as the country heavily relies on international aid to sustain its military and public services. Additionally, the meeting will address China's state-backed production of green energy technology and discuss humanitarian aid for Gaza.
Source: YAHOO