France Aims for G-7 Deal on Russian Assets After US Proposal
- Le Maire wants shared position at meeting in Stresa, Italy
- Yellen has urged joint action on frozen Russian assets
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The French government backed a US a proposal to tap frozen Russian assets for Ukraine’s benefit, raising the prospect of a deal this week at a meeting of Group of Seven finance ministers.
The US is pushing for the group of leading advanced economies to leverage future revenue generated from about $280 billion in Russian central bank funds — most of which lies immobilized in Europe. The plan could unlock an aid package of as much as $50 billion for Ukraine.