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Yellen sees no ‘showstoppers' on G7 Ukraine loan backed by Russian asset earnings

·1 min

U.S. Treasury Secretary Janet Yellen expressed optimism about discussions with G7 finance ministers regarding a larger loan to Ukraine backed by frozen Russian sovereign assets. Yellen believes that progress is being made in agreeing on the concept of the loan, emphasizing that not all technical details need to be resolved immediately. Issues still require resolution, but Yellen is hopeful that common ground can be reached. The G7 leaders are set to meet in June, where the proposal will be presented for consideration. Concerns about China’s industrial overcapacity were also discussed, with a consensus to express common concerns.