Yellen Backs EU Windfall Tax on Frozen Russian Assets
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US Treasury Secretary Janet Yellen gave her strongest backing yet for a European Union plan to impose a windfall tax on profits generated by frozen Russian sovereign assets, offering a key endorsement to a measure that would raise fresh funds to support Ukraine.
Speaking at a press conference in Marrakech, Morocco, at the start of annual meetings of the International Monetary Fund and the World Bank, Yellen said she supported “harnessing windfall proceeds from Russian sovereign assets immobilized in particular clearinghouses and using the funds to support Ukraine.”