US pushes for Ukraine aid, united front against China's trade practices at G7 finance meeting

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Janet Yellen,Business

The U.S. is seeking to build support for squeezing more money for Ukraine out of frozen Russian assets as finance ministers from the Group of Seven rich democracies open a two-day meeting Another key topic pushed by U.S. Treasury Secretary Janet Yellen will be building a united front against China’s subsidies for solar panels and electric cars.

United States' Treasury Secretary Janet Yellen shakes hands with Italy's Finance Minister Giancarlo Giorgetti as she arrives at the G7 Finance Ministers meeting in Stresa, northern Italy, Friday, May 24, 2024. – The U.S.

Proposals include borrowing against the future interest income from the frozen assets, so that Ukraine could be given as much as $50 billion immediately. “Let's compare the proposals, let's see what is the most convenient, the most efficient, the most rapid proposal that could be put in place," he said."The key point is not the method that we use, the key point is to ensure the right and strong and longstanding financing of the Ukrainian government.”

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