G7: Yellen To Push For Consensus On Using Russian Frozen Assets @ Fin Min
Meet

A US Treasury Dep't official has been talking on Treasury Secretary Janet
Yellen's upcoming trip to the G7 finance ministers and central bank governors
meeting in Stresa, Italy taking place 23-25 May. Official: 'Yellen will discuss
at G7 meeting the need to tackle China's excess industrial capacity in key
sectors and new US tariffs on EVs, solar power equipment, and semiconductors.'

* Official: 'Yellen will discuss proposals to bring forward future proceeds

  from frozen Russian assetst to give more money to Ukraine more quickly, hopes
  G7 finance officials can reach a consensus on a plan for Russian assets to
  advise G7 leaders for summit in June.' Treasury official claims the G7 is
  'making progress' towards agreement on the issue. Reuters reported :
  https://www.reuters.com/world/europe/g7-back-eu-line-frozen-russian-assets-it
  alian-official-says-2024-05-16/#:-:text=The%20G7%20froze%20around%20%24300,th
  e%20funds%20to%20help%20Ukraine.on 16 May that an Italian Treasury official
  had said that the G7 is set to back the EU line on using around EUR3bn/annum
  in windfall profits from frozen Russian assets to fund and arm Ukraine.

* Treasury official says that en route to Italy, Yellen will make a stop in

  Frankfurt for talks with German officials. She will deliver remarks 'on the
  importance of the Transatlantic alliance, including disrupting Russia's war
  machine, and developing clean energy'.

* The Italian presidency of the G7 lists the main agenda items for the fin

  min/CB gov meetings as : "Support for Ukraine and Russian financial assets,
  artificial intelligence (AI), global economy, multilateral development banks,
  initiatives on health and finance and international taxation". Schedule for
  the meetings can be found here:
  https://www.mef.gov.it/export/sites/MEF/ufficio-stampa/comunicati/2024/docume

nti/Media-Handbook-Stresa-ENG.pdf.