STRESA, Italy: G7 finance ministers gather in Italy on Thursday for a three-day meeting dominated by plans to use Russian assets to help Ukraine, as well as new sanctions on Moscow and the commercial threat posed by China.
The ministers and central bankers from the Group of Seven world powers are meeting in Stresa, on the shores of northern Italy's Lake Maggiore, to prepare for the larger summit of G7 heads of state next month in Puglia.Top of the agenda is a plan to finance crucial aid to Ukraine using the interest generated by the 300 billion euros of Russian central bank assets frozen by the G7 and Europe.
EU members of the G7 'will face continued pressure from the US to do more, with support from Canada and perhaps the UK', John Kirton, director of the University of Toronto's G7 Research Group, told AFP.Yellen had initially advocated a more radical solution -- the confiscation of the Russian assets themselves.But European countries worried about creating a precedent in international law and the risk of serious legal disputes with Moscow.
Assets Plan For Aiding Ukraine To Dominate G7 Meet
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