G7 Meeting in Italy: Debating the Utilization of Frozen Russian Assets for Ukraine

Germany acknowledges numerous open questions on the U.S. proposal regarding the use of frozen Russian assets, which will be discussed at the G7 meeting in Italy. Despite progress, German Finance Minister Christian Lindner emphasizes the complexity and legal challenges involved in utilizing these assets for aiding Ukraine.

Germany said on Thursday there were many open questions around a U.S. proposal for Russian frozen assets which will be discussed at the Group of Seven meeting in Italy.

"We are examining further suggestions, but we are initially satisfied with what we have already achieved and what was unthinkable a few months ago," German Finance Minister Christian Lindner said in Stresa, Italy.

U.S. Treasury Secretary Janet Yellen will push finance ministers from the G7 major democracies meeting in Italy to agree to a plan to bring forward the interest earnings on frozen Russian assets to provide money to Ukraine quickly. Lindner said he sees the meeting as an opportunity to discuss proposals but does not expect any decision as the matter is complex and there are many questions unanswered.

"The European Union has made great progress: we are using the revenues from the frozen Russian assets," Lindner said. "This is legally secure and will quickly help Ukraine."

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