{"id":130645,"date":"2024-05-23T07:40:01","date_gmt":"2024-05-23T04:40:01","guid":{"rendered":"https:\/\/tietopankki.crnet.fi\/fi\/news\/g7-finance-chiefs-seek-common-line-on-russian-assets-china\/"},"modified":"2024-05-23T07:40:01","modified_gmt":"2024-05-23T04:40:01","slug":"g7-finance-chiefs-seek-common-line-on-russian-assets-china","status":"publish","type":"post","link":"https:\/\/tietopankki.crnet.fi\/en\/news\/g7-finance-chiefs-seek-common-line-on-russian-assets-china\/","title":{"rendered":"G7 finance chiefs seek common line on Russian assets, China"},"content":{"rendered":"<div class=\"mp_wrapper\">\n  <div class=\"mepr-unauthorized-message\">\n    <p>You are unauthorized to view this page.<\/p>\n  <\/div>\n  <div class=\"mepr-login-form-wrap\">\n            \n<div class=\"mp_wrapper mp_login_form\">\n                  <!-- mp-login-form-start -->     <form name=\"mepr_loginform\" id=\"mepr_loginform\" class=\"mepr-form\" action=\"https:\/\/tietopankki.crnet.fi\/en\/login-2\/\" method=\"post\" data-trp-original-action=\"https:\/\/tietopankki.crnet.fi\/en\/login-2\/\">\n            <div class=\"mp-form-row mepr_username\">\n        <div class=\"mp-form-label\">\n                              <label for=\"user_login\">Username<\/label>\n        <\/div>\n        <input type=\"text\" name=\"log\" id=\"user_login\" value=\"\" \/>\n      <\/div>\n      <div class=\"mp-form-row mepr_password\">\n        <div class=\"mp-form-label\">\n          <label for=\"user_pass\">Password<\/label>\n          <div class=\"mp-hide-pw\">\n            <input type=\"password\" name=\"pwd\" id=\"user_pass\" value=\"\" \/>\n            <button type=\"button\" class=\"button mp-hide-pw hide-if-no-js\" data-toggle=\"0\" aria-label=\"Show password\">\n              <span class=\"dashicons dashicons-visibility\" aria-hidden=\"true\"><\/span>\n            <\/button>\n          <\/div>\n        <\/div>\n      <\/div>\n            <div>\n        <label><input name=\"rememberme\" type=\"checkbox\" id=\"rememberme\" value=\"forever\" \/> Remember Me<\/label>\n      <\/div>\n      <div class=\"mp-spacer\">&nbsp;<\/div>\n      <div class=\"submit\">\n        <input type=\"submit\" name=\"wp-submit\" id=\"wp-submit\" class=\"button-primary mepr-share-button\" value=\"Log In\" \/>\n        <input type=\"hidden\" name=\"redirect_to\" value=\"\/en\/wp-json\/wp\/v2\/posts\/130645\" \/>\n        <input type=\"hidden\" name=\"mepr_process_login_form\" value=\"true\" \/>\n        <input type=\"hidden\" name=\"mepr_is_login_page\" value=\"false\" \/>\n      <\/div>\n    <input type=\"hidden\" name=\"trp-form-language\" value=\"en\"\/><\/form>\n    <div class=\"mp-spacer\">&nbsp;<\/div>\n    <div class=\"mepr-login-actions\">\n        <a\n          href=\"https:\/\/tietopankki.crnet.fi\/en\/login-2\/?action=forgot_password\"\n          title=\"Click here to reset your password\"\n        >\n          Forgot Password        <\/a>\n    <\/div>\n\n      \n    <!-- mp-login-form-end --> \n  <\/div>\n      <\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<div class=\"smart_content_wrapper\">\nG7 finance chiefs meeting in Italy this week will attempt to find common ground on pulling forward earnings on frozen Russian assets to boost funding for Ukraine&#8217;s war effort and pushing back on China&#8217;s growing export strength in key sectors, officials said. Finance ministers and central bankers from the Group of Seven wealthy democracies &#8211; the United States, Japan, Germany, France, Britain, Italy and Canada &#8211; will gather in the northern Italian lakeside town of Stresa on Friday and Saturday.<\/p>\n<p>G7 negotiators have been discussing for weeks how to best exploit some $300 billion worth of Russian financial assets, such as major currencies and government bonds, which were frozen shortly after Moscow invaded Ukraine in February 2022. The United States is pushing to find a way to bring forward the future income from those assets, to back a loan that could provide it with as much as $50 billion in the near term.<\/p>\n<p>However, several officials from G7 countries, including the U.S., said many legal and technical aspects need to be hammered out, and a detailed accord is not expected to be reached in Stresa, several officials said.<br \/>\n&#8220;We&#8217;re not looking for term sheets over the weekend,&#8221; a senior U.S. Treasury official said, referring to legal documents that describe basic investment terms and conditions. Instead, the official said on condition of anonymity that the G7 ministers are trying to build consensus around a plan for that would give Ukraine enough money up front to meet medium-term war and civilian needs and signal to Russia that it &#8220;cannot outlast&#8221; Western powers financially. The talks are aimed at presenting a proposal to G7 heads of government who will meet in Puglia, southern Italy, on June 13 to 15.<\/p>\n<p>Who would administer the loan &#8211; the World Bank or some other body &#8211; how it would be guaranteed, how future profits can be estimated and what would happen in the event of a peace deal with Russia are all aspects still to be clarified. European officials are particularly cautious, with one EU diplomat saying it would take &#8220;weeks if not months&#8221; for a final decision to be made. Italy holds the G7 presidency this year and its Economy Minister Giancarlo Giorgetti said last week the U.S. proposals on the use of the Russian assets had &#8220;quite serious legal implications&#8221; which still need clarifying.<\/p>\n<p>Source: <a rel=\"noopener\" href=\"https:\/\/www.reuters.com\/world\/g7-finance-chiefs-seek-common-line-russian-assets-china-2024-05-22\/\">Reuters<\/a><\/p>\n<\/div>\n<p>The post <a rel=\"noopener\" href=\"https:\/\/vastuullisuusuutiset.fi\/fi\/csr-news-en\/g7-finance-chiefs-seek-common-line-on-russian-assets-china\/\">G7 finance chiefs seek common line on Russian assets, China<\/a> appeared first on <a rel=\"noopener\" href=\"https:\/\/vastuullisuusuutiset.fi\/fi\">Vastuullisuusuutiset.fi<\/a>.<\/p>","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22],"tags":[555,14628,1539,588],"class_list":["post-130645","post","type-post","status-publish","format-standard","hentry","category-news","tag-csr-news-en","tag-finane-chiefs","tag-g7","tag-russia"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/posts\/130645","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/comments?post=130645"}],"version-history":[{"count":0,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/posts\/130645\/revisions"}],"wp:attachment":[{"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/media?parent=130645"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/categories?post=130645"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/tags?post=130645"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}