STRESA – Today, Secretary of the Treasury Janet L. Yellen met with France’s Minister of Economy and Finance Bruno Le Maire on the sidelines of the G7 Finance Minister and Central Bank Governor Meetings in Stresa, Italy. During their meeting, Secretary Yellen and Minister Le Maire had a productive and positive discussion on ways to unlock the value of immobilized Russian sovereign assets to support Ukraine’s continued resistance and long-term reconstruction, and ways to constrain Russia’s access to the goods it needs to build weapons, including the role China plays in supplying Russia’s military industrial complex. Secretary Yellen and Minister Le Maire also exchanged views on Chinese industrial practices that cause overcapacity and the potential impact on manufacturers in the United States, France, and globally. Secretary Yellen also raised concerns regarding the prospect of Palestinian banks being cut off from their Israeli correspondent banks and the resulting economic and humanitarian challenges to regional stability.
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