Finance ministers from the Group of Seven (G7) industrial democracies have convened in Stresa, Italy for a two-day meeting to discuss a unified approach to providing financial aid to Ukraine. The G7 is considering a novel plan to leverage frozen Russian assets, potentially amounting to $300 billion, to fund Ukraine's war effort. The U.S. has been a key proponent of this strategy, pushing for the use of profits from these assets as collateral for loans to Ukraine. Treasury Secretary Janet Yellen expressed optimism about the progress being made. Ukraine's Finance Minister Serhiy Marchenko also voiced satisfaction with the advancements. The draft communique indicates that the groundwork is being laid for a final agreement, which is expected to be discussed further in mid-June. European nations, including the UK, are reportedly close to agreeing on the plan, with the UK committing to a $50 billion upfront loan. Additionally, Yellen and IMF Managing Director Christine Lagarde discussed strategies for maximizing the value of Russian assets.
Treasury Secretary Janet Yellen and Bank of England Governor Andrew Bailey discuss strategies for maximizing the value of Russian assets. #news #finance
Treasury Secretary Janet Yellen meets with Bank of England Governor Andrew Bailey to discuss economic issues. Treasury issues readout following the meeting.
The United States and its Western allies took a key step Saturday toward using frozen Russian assets to fund Ukraine’s war effort, moving closer to providing another key financial stream for Kyiv. https://t.co/kmRstZV0qe
Finance officials from the Group of Seven rich democracies said they had moved toward agreement on a U.S. proposal to squeeze more money for Ukraine from Russian assets frozen in their countries. But the ministers left a final deal to be worked out... https://t.co/8m29bj7KIA
Treasury Secretary Janet Yellen and IMF Managing Director Christine Lagarde discussed leveraging Russian assets to generate more value in a recent meeting. Stay tuned for more updates on this developing story. #Yellen #Lagarde #Russia #Assets #Value
#G7 ministers cite 'progress' but no deal on #Russian assets for #Ukraine: draft statement https://t.co/PuYSG3OdzG
Treasury Secretary Yellen delivers remarks to journalists during the gathering of G7 finance ministers, discussing key economic priorities.
U.S. Treasury Secretary Janet Yellen announces progress made by G7 countries on plan to leverage Russian assets. #G7 #JanetYellen #Russia
⚡️AFP: G7 ministers cite progress but no final deal on Russian assets for Ukraine. G7 finance ministers cited "progress" on May 25 in using profits from frozen Russian assets to finance Ukraine, AFP reported. "We are making progress in our discussions on potential avenues to…
In the upcoming G-7 meeting in 2024, Ukraine expresses satisfaction with the progress made in utilizing Russian assets for aid. #Bloomberg #Ukraine #G7
Ukraine's Serhiy Marchenko said he’s pleased with how Group of Seven talks have advanced on funding aid via profits gleaned from Russian assets https://t.co/k9ZHv23rNz
A wrap from Stresa: G7 finance ministers close ranks as tensions with Russia and China fester. Economic officials project a united front as they prepped tougher sanctions and tariffs. Yellen says allies won’t be deterred by Russian retaliation threats. https://t.co/ePYyd6rVDv
YELLEN: G7 MAKES PROGRESS ON GLOBAL TAX AGREEMENT DETAILS
YELLEN ADDRESSES REPORTERS AT G7 FINANCE MINISTERS' GATHERING
YELLEN: G7 MOVES CLOSER TO LEVERAGING RUSSIA ASSETS PLAN
⚠️ G7 AGREE FURTHER FINANCING FOR UKRAINE, TO DISCUSS DETAILS IN COMING WEEKS Full Story → https://t.co/e3NPKv7dtq
#G7 finance ministers are expected to agree on a broad plan to use interest from frozen Russian assets for #Ukraine, paving the way for a potential agreement among leaders next month. #Russia https://t.co/Y6h7dvHl3w
NEW Chancellor at G7 meeting in Italy will sign UK up to US-led $50bn plan to use profits from frozen Russian assets to fund Ukraine with an up front loan. European nations getting closer to agreeing after actual seizure of assets parked.
G7 ministers move closer to Russian assets deal to help Ukraine https://t.co/HVcd2CErEy
Hopes grow of G7 deal to support Ukraine with $300bn in frozen Russian assets https://t.co/jXFOgXgZ6L
US Treasury Secretary Janet Yellen voiced optimism about the progress of Group of Seven talks on a plan to use future profits from frozen Russia assets to help Ukraine https://t.co/z9I8UG8D1I
Ukraine Aid From Russian Assets Is Moving Forward in G-7 Draft Communique lays groundwork for leaders’ discussion in June Finance ministers are set to talk about Ukraine on Saturday https://t.co/hPJwKEBDxF
Group of Seven finance ministers will lay the groundwork for using the profits from frozen Russia assets to help Ukraine, according to a draft of the communique https://t.co/BNy5fQSDyj
The U.S. sought to build support for squeezing more money for Ukraine out of frozen Russian assets and for uniting against China's trade practices as finance ministers from the Group of Seven rich democracies opened a two-day meeting on Friday on the... https://t.co/nlgbmkaKmE
Group of Seven finance ministers will lay the groundwork for using the profits from frozen Russia assets to help Ukraine, according a draft of the communique https://t.co/2Xp0BhOmlh
Ukraine aid from Russian assets is moving forward in G-7 draft communique https://t.co/w6XlWahM3E via @AlbertoNardelli https://t.co/MvdbyO3Fxk
U.S. pushes for Ukraine aid, united front against China’s trade practices at G7 finance meeting https://t.co/aI5RKMEpHb
U.S. pushes for Ukraine aid, united front against China's trade practices at G7 finance meeting https://t.co/qfIacchpu7
After weeks of U.S. prodding, key members of the G-7 seem inclined to sign off on a novel way to aid Ukraine with frozen Russian assets, FP’s @KFJ_FP writes. https://t.co/xBxGkP8XFA
The US and the EU are overcoming their differences and edging closer to an agreement to secure a massive loan for Ukraine — using Russian assets frozen in the West as collateral. 🔗 https://t.co/MLit5pAXC9 https://t.co/rGrSEOV8fs
G7 supported the US idea of a loan to Ukraine at the expense of Russian assets, Bloomberg , noting that this issue will be finally discussed at a meeting in Italy in mid-June. https://t.co/EzEay3yfTX
⚠️ G7 FINANCE SUMMIT KICKS OFF SEEKING UNITY ON UKRAINE, CHINA Full Story → https://t.co/a4uMDYE17c Finance chiefs from the Group of Seven industrial democracies began a two-day meeting in Italy on Friday seeking to present a common front on the need to provide a loan to…