G7 finance meeting marred by divisions over seizing Russian assets ...Middle East

SAO PAULO: French Finance Minister Bruno Le Maire on Wednesday publicly challenged U.S. Treasury Secretary Janet Yellen’s view that it would be legal to monetize some $300 billion in frozen Russian assets, revealing deep divisions among Group of Seven countries. Le Maire, speaking after a G7 finance officials meeting, rejected the U.S. position outright and said France was convinced that there was no sufficient basis in international law to proceed, and further work was required. He said any such moves should be fully underpinned by international law and required the support of all members of the Group of 20 major economies – which includes Russia, China and other countries that have been

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